Looking At Schlumberger's Recent Whale Trades

Looking At Schlumberger's Recent Whale Trades

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.

Today, Benzinga's options scanner spotted 21 options trades for Schlumberger.

This isn't normal.

The overall sentiment of these big-money traders is split between 47% bullish and 52%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $103,200, and 20, calls, for a total amount of $2,164,020..

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 $27.5 to $40.0 for Schlumberger over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Schlumberger options trades today is 13247.0 with a total volume of 52,630.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Schlumberger's big money trades within a strike price range of $27.5 to $40.0 over 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 CALL SWEEP BEARISH 07/29/22 $35.00 $254.1K 5.3K 4.9K
SLB CALL SWEEP NEUTRAL 01/20/23 $40.00 $227.3K 12.9K 3.6K
SLB CALL SWEEP NEUTRAL 01/20/23 $40.00 $214.5K 12.9K 2.6K
SLB CALL TRADE BEARISH 07/29/22 $35.00 $202.0K 5.3K 2.7K
SLB CALL SWEEP BULLISH 01/20/23 $40.00 $186.3K 12.9K 1.3K

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SLB CALL SWEEP BEARISH 07/29/22 $35.00 $254.1K 5.3K 4.9K
SLB CALL SWEEP NEUTRAL 01/20/23 $40.00 $227.3K 12.9K 3.6K
SLB CALL SWEEP NEUTRAL 01/20/23 $40.00 $214.5K 12.9K 2.6K
SLB CALL TRADE BEARISH 07/29/22 $35.00 $202.0K 5.3K 2.7K
SLB CALL SWEEP BULLISH 01/20/23 $40.00 $186.3K 12.9K 1.3K

Where Is Schlumberger Standing Right Now?

  • With a volume of 7,964,270, the price of SLB is down -1.38% at $35.83.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 85 days.

What The Experts Say On Schlumberger:

  • Goldman Sachs has decided to maintain their Buy rating on Schlumberger, which currently sits at a price target of $45.
  • Barclays has decided to maintain their Overweight rating on Schlumberger, which currently sits at a price target of $61.
  • Benchmark upgraded its action to Buy with a price target of $55
  • Morgan Stanley has decided to maintain their Overweight rating on Schlumberger, which currently sits at a price target of $45.
  • Cowen & Co. has decided to maintain their Outperform rating on Schlumberger, which currently sits at a price target of $49.

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

Posted In: BZI-UOAOptionsMarkets