Whales with a lot of money to spend have taken a noticeably bullish stance on BP.

Looking at options history for BP (NYSE:BP) we detected 13 trades.

If we consider the specifics of each trade, it is accurate to state that 61% of the investors opened trades with bullish expectations and 38% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $1,021,107 and 5, calls, for a total amount of $264,486.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $47.0 for BP during the past quarter.

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 BP's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across BP's significant trades, within a strike price range of $30.0 to $47.0, over the past month.

BP Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About BP

After a thorough review of the options trading surrounding BP, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is BP Standing Right Now?

• Currently trading with a volume of 2,769,135, the BP's price is up by 1.94%, now at $35.71.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 54 days.

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.