Looking At Petrobras Brasileiro's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on Petrobras Brasileiro PBR.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with PBR, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 38 options trades for Petrobras Brasileiro.

This isn't normal.

The overall sentiment of these big-money traders is split between 31% bullish and 68%, bearish.

Out of all of the options we uncovered, 37 are puts, for a total amount of $2,399,621, and there was 1 call, for a total amount of $90,480.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $25.0 for Petrobras Brasileiro over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Petrobras Brasileiro's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Petrobras Brasileiro's whale activity within a strike price range from $10.0 to $25.0 in the last 30 days.

Petrobras Brasileiro Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Petrobras Brasileiro Standing Right Now?

• With a volume of 36,490,994, the price of PBR is down -2.21% at $13.26.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 15 days.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.