Looking At Occidental Petroleum's Recent Whale Trades

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 28 uncommon options trades for Occidental Petroleum.

This isn't normal.

The overall sentiment of these big-money traders is split between 39% bullish and 60%, bearish.

Out of all of the special options we uncovered, 11 are puts, for a total amount of $1,437,734, and 17 are calls, for a total amount of $1,699,348.

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 $40.0 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 1662.0 with a total volume of 8,413.00.

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 $40.0 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 PUT SWEEP BEARISH 10/21/22 $75.00 $397.1K 1.7K 250
OXY CALL SWEEP BEARISH 11/18/22 $57.50 $305.0K 915 537
OXY CALL SWEEP BEARISH 11/18/22 $57.50 $305.0K 915 537
OXY PUT SWEEP BULLISH 11/18/22 $70.00 $304.8K 1.6K 591
OXY CALL SWEEP BEARISH 10/28/22 $58.00 $205.0K 51 2

Where Is Occidental Petroleum Standing Right Now?

  • With a volume of 12,570,650, the price of OXY is up 1.31% at $58.64.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 37 days.

What The Experts Say On Occidental Petroleum:

  • Piper Sandler has decided to maintain their Overweight rating on Occidental Petroleum, which currently sits at a price target of $92.
  • Citigroup downgraded its action to Neutral with a price target of $67
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Occidental Petroleum, which currently sits at a price target of $76.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Occidental Petroleum, which currently sits at a price target of $70.
  • Barclays has decided to maintain their Overweight rating on Occidental Petroleum, which currently sits at a price target of $75.

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