Schlumberger Whale Trades For March 23

Someone with a lot of money to spend has taken a bearish stance on Schlumberger SLB.

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

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 18 uncommon options trades for Schlumberger.

This isn't normal.

The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $407,700, and 16 are calls, for a total amount of $719,977.

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 $20.0 to $45.0 for Schlumberger 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 Schlumberger'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 Schlumberger's whale activity within a strike price range from $20.0 to $45.0 in the last 30 days.

Schlumberger 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
SLB PUT TRADE BULLISH 09/16/22 $37.50 $343.2K 49 1.5K
SLB CALL SWEEP BEARISH 04/14/22 $42.50 $128.8K 20.6K 1.9K
SLB PUT SWEEP BEARISH 04/01/22 $42.50 $64.5K 123 500
SLB CALL TRADE BEARISH 01/20/23 $20.00 $62.1K 1.4K 27
SLB CALL SWEEP BEARISH 05/20/22 $37.50 $60.0K 4.0K 204

Where Is Schlumberger Standing Right Now?

  • With a volume of 6,717,923, the price of SLB is up 3.23% at $42.53.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 30 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.

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Posted In: OptionsMarketsBZI-UOA
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