Check Out What Whales Are Doing With OXY

Someone with a lot of money to spend has taken a bullish 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 12 uncommon options trades for Occidental Petroleum.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $766,463, and 5 are calls, for a total amount of $233,121.

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 $52.5 to $65.0 for Occidental Petroleum over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Occidental Petroleum'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 Occidental Petroleum's whale activity within a strike price range from $52.5 to $65.0 in the last 30 days.

Occidental Petroleum 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
OXY PUT TRADE BEARISH 06/21/24 $57.50 $469.5K 1.8K 666
OXY CALL SWEEP BEARISH 06/23/23 $64.00 $114.0K 222 2.3K
OXY PUT SWEEP BULLISH 11/17/23 $52.50 $78.4K 2.7K 519
OXY PUT TRADE BEARISH 06/16/23 $57.50 $65.0K 12.7K 516
OXY PUT SWEEP BULLISH 11/17/23 $52.50 $56.5K 2.7K 204

Where Is Occidental Petroleum Standing Right Now?

  • With a volume of 9,139,124, the price of OXY is down -0.14% at $59.05.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 71 days.

What The Experts Say On Occidental Petroleum:

  • Truist Securities has decided to maintain their Buy rating on Occidental Petroleum, which currently sits at a price target of $85.
  • Piper Sandler has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $61.
  • Mizuho has decided to maintain their Buy rating on Occidental Petroleum, which currently sits at a price target of $67.
  • Wells Fargo has decided to maintain their Equal-Weight rating on Occidental Petroleum, which currently sits at a price target of $64.

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.

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!