Looking At Occidental Petroleum's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on Occidental Petroleum OXY.

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 OXY, 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 34 uncommon options trades for Occidental Petroleum.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $575,995, and 26 are calls, for a total amount of $2,260,971.

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 $22.0 to $85.0 for Occidental 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 Occidental 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 Occidental Petroleum's whale activity within a strike price range from $22.0 to $85.0 in the last 30 days.

Occidental 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
OXY CALL TRADE BULLISH 01/20/23 $70.00 $476.0K 3.7K 443
OXY CALL SWEEP NEUTRAL 01/20/23 $40.00 $299.4K 6.4K 196
OXY CALL SWEEP NEUTRAL 01/19/24 $60.00 $210.6K 1.8K 96
OXY PUT SWEEP BULLISH 07/08/22 $57.00 $159.7K 301 2.1K
OXY PUT SWEEP BEARISH 12/16/22 $60.00 $131.6K 66 2.0K

Where Is Occidental Petroleum Standing Right Now?

  • With a volume of 8,755,813, the price of OXY is down -2.14% at $69.04.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 55 days.

What The Experts Say On Occidental Petroleum:

  • Susquehanna has decided to maintain their Positive rating on Occidental Petroleum, which currently sits at a price target of $73.
  • Wells Fargo has decided to maintain their Underweight rating on Occidental Petroleum, which currently sits at a price target of $58.
  • Evercore ISI Group downgraded its action to In-Line with a price target of $74
  • Mizuho has decided to maintain their Buy rating on Occidental Petroleum, which currently sits at a price target of $89.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Occidental Petroleum, which currently sits at a price target of $73.

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 want to stay updated on the latest options trades for {d[company_name]}, Benzinga Progives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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