ConocoPhillips Unusual Options Activity For March 09

Someone with a lot of money to spend has taken a bullish stance on ConocoPhillips COP.

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 COP, 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 16 uncommon options trades for ConocoPhillips.

This isn't normal.

The overall sentiment of these big-money traders is split between 68% bullish and 31%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $276,220, and 10 are calls, for a total amount of $1,034,018.

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 $105.0 to $130.0 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 $105.0 to $130.0 in the last 30 days.

ConocoPhillips Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
COP CALL SWEEP BULLISH 06/16/23 $105.00 $258.5K 6.2K 282
COP CALL SWEEP BULLISH 06/16/23 $105.00 $203.2K 6.2K 594
COP CALL SWEEP BULLISH 06/16/23 $105.00 $197.7K 6.2K 879
COP CALL SWEEP BEARISH 06/16/23 $110.00 $113.1K 2.4K 520
COP CALL SWEEP BULLISH 06/16/23 $105.00 $65.5K 6.2K 363

Where Is ConocoPhillips Standing Right Now?

  • With a volume of 2,965,655, the price of COP is down -1.11% at $106.04.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 56 days.

What The Experts Say On ConocoPhillips:

  • Citigroup has decided to maintain their Buy rating on ConocoPhillips, which currently sits at a price target of $145.

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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: OptionsMarketsBZI-UOA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!