This Is What Whales Are Betting On Hess

Investors with significant funds have taken a bearish position in Hess HES, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in HES usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 18 options transactions for Hess. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 44% being bullish and 55% bearish. Of all the options we discovered, 17 are puts, valued at $755,725, and there was a single call, worth $200,000.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $145.0 to $150.0 for Hess over the last 3 months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Hess's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Hess's significant trades, within a strike price range of $145.0 to $150.0, over the past month.

Hess Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About Hess

Hess is an independent oil and gas producer with key assets in the Bakken Shale, Guyana, the Gulf of Mexico, and Southeast Asia. At the end of 2022, the company reported net proved reserves of 1.3 billion barrels of oil equivalent. Net production averaged 344 thousand barrels of oil equivalent per day in 2022, at a ratio of 72% oil and natural gas liquids and 28% natural gas.

In light of the recent options history for Hess, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Hess

• With a trading volume of 1,499,790, the price of HES is down by -0.95%, reaching $142.8.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 69 days from now.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Hess options trades with real-time alerts from Benzinga Pro.