This Is What Whales Are Betting On Marathon Petroleum

This Is What Whales Are Betting On Marathon Petroleum

Someone with a lot of money to spend has taken a bullish stance on Marathon Petroleum MPC.

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 MPC, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 15 options trades for Marathon Petroleum.

This isn't normal.

The overall sentiment of these big-money traders is split between 80% bullish and 20%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $83,904, and 14, calls, for a total amount of $798,369..

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 $67.5 to $110.0 for Marathon Petroleum 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 Marathon Petroleum'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 Marathon Petroleum's whale activity within a strike price range from $67.5 to $110.0 in the last 30 days.

Marathon Petroleum Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
MPC CALL SWEEP BULLISH 04/14/22 $85.00 $124.5K 2.2K 3.9K
MPC CALL SWEEP BULLISH 05/20/22 $85.00 $105.5K 20 521
MPC CALL TRADE BEARISH 09/16/22 $80.00 $89.6K 514 128
MPC CALL SWEEP BULLISH 04/14/22 $75.00 $87.3K 15.0K 173
MPC PUT TRADE BULLISH 05/20/22 $67.50 $83.9K 13 876

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
MPC CALL SWEEP BULLISH 04/14/22 $85.00 $124.5K 2.2K 3.9K
MPC CALL SWEEP BULLISH 05/20/22 $85.00 $105.5K 20 521
MPC CALL TRADE BEARISH 09/16/22 $80.00 $89.6K 514 128
MPC CALL SWEEP BULLISH 04/14/22 $75.00 $87.3K 15.0K 173
MPC PUT TRADE BULLISH 05/20/22 $67.50 $83.9K 13 876

Where Is Marathon Petroleum Standing Right Now?

  • With a volume of 6,111,163, the price of MPC is up 2.14% at $80.0.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 43 days.

What The Experts Say On Marathon Petroleum:

  • Raymond James has decided to maintain their Strong Buy rating on Marathon Petroleum, which currently sits at a price target of $98.

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.

Posted In: BZI-UOAOptionsMarkets