A whale with a lot of money to spend has taken a noticeably bearish stance on Occidental Petroleum.
Looking at options history for Occidental Petroleum OXY we detected 69 strange trades.
If we consider the specifics of each trade, it is accurate to state that 49% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 15 are puts, for a total amount of $1,197,555 and 54, calls, for a total amount of $9,557,680.
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 $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 4267.71 with a total volume of 45,890.00.
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 $22.0 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 | TRADE | NEUTRAL | 01/20/23 | $45.00 | $2.7M | 26.1K | 5.1K |
| OXY | CALL | SWEEP | BEARISH | 09/16/22 | $57.50 | $222.9K | 1.7K | 828 |
| OXY | CALL | SWEEP | BULLISH | 01/19/24 | $23.00 | $182.0K | 34.7K | 279 |
| OXY | CALL | TRADE | BEARISH | 01/19/24 | $23.00 | $181.4K | 34.7K | 329 |
| OXY | CALL | SWEEP | BULLISH | 01/19/24 | $23.00 | $177.0K | 34.7K | 228 |
Where Is Occidental Petroleum Standing Right Now?
- With a volume of 39,791,868, the price of OXY is down -2.22% at $59.1.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 28 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 $74.
- 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
- Morgan Stanley has decided to maintain their Equal-Weight rating on Occidental Petroleum, which currently sits at a price target of $73.
- Goldman Sachs has decided to maintain their Buy rating on Occidental Petroleum, which currently sits at a price target of $70.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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