Looking At Phillips 66's Recent Whale Trades

Looking At Phillips 66's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bearish stance on Phillips 66.

Looking at options history for Phillips 66 PSX we detected 24 strange trades.

If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.

From the overall spotted trades, 9 are puts, for a total amount of $601,715 and 15, calls, for a total amount of $766,513.

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 $65.0 to $130.0 for Phillips 66 over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Phillips 66'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 Phillips 66's whale trades within a strike price range from $65.0 to $130.0 in the last 30 days.

Phillips 66 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
PSX PUT SWEEP BULLISH 08/19/22 $65.00 $201.5K 182 1.1K
PSX CALL SWEEP BULLISH 08/19/22 $90.00 $109.4K 3.7K 2.3K
PSX CALL SWEEP BULLISH 08/19/22 $90.00 $103.3K 3.7K 729
PSX CALL SWEEP BEARISH 08/19/22 $82.50 $87.5K 919 290
PSX PUT TRADE BEARISH 07/22/22 $100.00 $84.5K 85 41

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
PSX PUT SWEEP BULLISH 08/19/22 $65.00 $201.5K 182 1.1K
PSX CALL SWEEP BULLISH 08/19/22 $90.00 $109.4K 3.7K 2.3K
PSX CALL SWEEP BULLISH 08/19/22 $90.00 $103.3K 3.7K 729
PSX CALL SWEEP BEARISH 08/19/22 $82.50 $87.5K 919 290
PSX PUT TRADE BEARISH 07/22/22 $100.00 $84.5K 85 41

Where Is Phillips 66 Standing Right Now?

  • With a volume of 2,050,168, the price of PSX is down -2.62% at $78.28.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 23 days.

What The Experts Say On Phillips 66:

  • Wells Fargo has decided to maintain their Overweight rating on Phillips 66, which currently sits at a price target of $127.
  • Barclays has decided to maintain their Overweight rating on Phillips 66, which currently sits at a price target of $113.
  • BMO Capital downgraded its action to Outperform with a price target of $132

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 Phillips 66, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets