Looking At ConocoPhillips's Recent Unusual Options Activity

Looking At ConocoPhillips's Recent Unusual Options Activity

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

Looking at options history for ConocoPhillips COP we detected 14 strange trades.

If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 57% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $295,400 and 8, calls, for a total amount of $575,879.

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 $90.0 to $190.0 for ConocoPhillips 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 ConocoPhillips'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 ConocoPhillips's whale trades within a strike price range from $90.0 to $190.0 in the last 30 days.

ConocoPhillips 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
COP CALL TRADE BEARISH 01/19/24 $185.00 $365.0K 4 509
COP PUT TRADE BULLISH 03/17/23 $125.00 $108.1K 248 97
COP PUT TRADE BULLISH 03/17/23 $130.00 $69.8K 131 0
COP CALL SWEEP BULLISH 11/18/22 $110.00 $39.0K 1.8K 27
COP PUT TRADE NEUTRAL 01/17/25 $190.00 $34.9K 11 0

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
COP CALL TRADE BEARISH 01/19/24 $185.00 $365.0K 4 509
COP PUT TRADE BULLISH 03/17/23 $125.00 $108.1K 248 97
COP PUT TRADE BULLISH 03/17/23 $130.00 $69.8K 131 0
COP CALL SWEEP BULLISH 11/18/22 $110.00 $39.0K 1.8K 27
COP PUT TRADE NEUTRAL 01/17/25 $190.00 $34.9K 11 0

Where Is ConocoPhillips Standing Right Now?

  • With a volume of 4,616,807, the price of COP is up 2.38% at $128.24.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 84 days.

What The Experts Say On ConocoPhillips:

  • Goldman Sachs has decided to maintain their Buy rating on ConocoPhillips, which currently sits at a price target of $142.
  • Credit Suisse has decided to maintain their Outperform rating on ConocoPhillips, which currently sits at a price target of $145.
  • Wells Fargo has decided to maintain their Overweight rating on ConocoPhillips, which currently sits at a price target of $154.
  • Barclays has decided to maintain their Overweight rating on ConocoPhillips, which currently sits at a price target of $135.
  • Jefferies downgraded its action to Buy with a price target of $143

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

Posted In: BZI-UOAOptionsMarkets