What Are Whales Doing With Occidental Petroleum

A whale with a lot of money to spend has taken a noticeably bullish stance on Occidental Petroleum.

Looking at options history for Occidental Petroleum OXY we detected 18 strange trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $175,527 and 14, calls, for a total amount of $1,104,127.

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 $90.0 for Occidental Petroleum over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Occidental Petroleum options trades today is 3742.82 with a total volume of 8,925.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Occidental Petroleum's big money trades within a strike price range of $20.0 to $90.0 over 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 SWEEP BEARISH 09/16/22 $55.00 $295.8K 1.4K 251
OXY CALL TRADE BEARISH 06/17/22 $20.00 $107.1K 28 25
OXY CALL TRADE NEUTRAL 06/17/22 $21.00 $106.0K 0 25
OXY CALL TRADE BEARISH 06/17/22 $22.00 $102.7K 4 50
OXY CALL TRADE BEARISH 06/17/22 $23.00 $100.3K 12 25

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
OXY CALL SWEEP BEARISH 09/16/22 $55.00 $295.8K 1.4K 251
OXY CALL TRADE BEARISH 06/17/22 $20.00 $107.1K 28 25
OXY CALL TRADE NEUTRAL 06/17/22 $21.00 $106.0K 0 25
OXY CALL TRADE BEARISH 06/17/22 $22.00 $102.7K 4 50
OXY CALL TRADE BEARISH 06/17/22 $23.00 $100.3K 12 25

Where Is Occidental Petroleum Standing Right Now?

  • With a volume of 10,722,176, the price of OXY is up 5.32% at $63.01.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 49 days.

What The Experts Say On Occidental Petroleum:

  • Morgan Stanley has decided to maintain their Equal-Weight rating on Occidental Petroleum, which currently sits at a price target of $73.
  • Barclays has decided to maintain their Overweight rating on Occidental Petroleum, which currently sits at a price target of $84.
  • 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.

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 Occidental Petroleum, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets

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