Petrobras Brasileiro Unusual Options Activity For July 31

Someone with a lot of money to spend has taken a bearish stance on Petrobras Brasileiro PBR.

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 PBR, 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 10 uncommon options trades for Petrobras Brasileiro.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $370,854, and 7 are calls, for a total amount of $1,141,068.

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 $13.0 to $20.0 for Petrobras Brasileiro over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Petrobras Brasileiro options trades today is 8158.14 with a total volume of 18,055.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Petrobras Brasileiro's big money trades within a strike price range of $13.0 to $20.0 over the last 30 days.

Petrobras Brasileiro 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
PBR CALL TRADE BEARISH 06/21/24 $17.00 $592.0K 3.0K 8.0K
PBR CALL TRADE BEARISH 06/21/24 $17.00 $370.0K 3.0K 5.0K
PBR PUT SWEEP BEARISH 01/19/24 $20.00 $307.5K 35.0K 501
PBR CALL SWEEP BULLISH 10/20/23 $16.00 $58.9K 2.1K 2.5K
PBR CALL TRADE BEARISH 08/04/23 $13.50 $39.0K 767 513

Where Is Petrobras Brasileiro Standing Right Now?

  • With a volume of 11,990,442, the price of PBR is up 4.92% at $14.62.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 3 days.

What The Experts Say On Petrobras Brasileiro:

  • Bradesco Corretora has decided to maintain their Neutral rating on Petrobras Brasileiro, which currently sits at a price target of $10.

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

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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