Whales with a lot of money to spend have taken a noticeably bullish stance on BP.
Looking at options history for BP BP we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 54% of the investors opened trades with bullish expectations and 45% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $357,840 and 4, calls, for a total amount of $148,126.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $33.0 and $40.0 for BP, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of BP stands at 2684.56, with a total volume reaching 1,849.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in BP, situated within the strike price corridor from $33.0 to $40.0, throughout the last 30 days.
BP Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BP | PUT | SWEEP | BULLISH | 01/17/25 | $40.00 | $98.7K | 732 | 0 |
| BP | PUT | SWEEP | BEARISH | 01/19/24 | $40.00 | $77.5K | 923 | 0 |
| BP | PUT | SWEEP | BULLISH | 01/19/24 | $35.00 | $49.5K | 11.6K | 0 |
| BP | CALL | SWEEP | BULLISH | 12/15/23 | $35.00 | $45.0K | 1.9K | 603 |
| BP | CALL | SWEEP | BULLISH | 12/15/23 | $35.00 | $44.2K | 1.9K | 706 |
About BP
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2022, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2022, reserves stood at 7.2 billion barrels of oil equivalent, 56% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day. BP also holds a 20% ownership interest in Rosneft, which it plans to exit.
In light of the recent options history for BP, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of BP
- With a volume of 2,381,373, the price of BP is down -1.49% at $35.06.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 82 days.
What The Experts Say On BP
1 market experts have recently issued ratings for this stock, with a consensus target price of $43.0.
- Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on BP with a target price of $43.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for BP with Benzinga Pro for real-time alerts.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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