Financial giants have made a conspicuous bearish move on Occidental Petroleum. Our analysis of options history for Occidental Petroleum OXY revealed 11 unusual trades.
Delving into the details, we found 36% of traders were bullish, while 63% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $289,156, and 4 were calls, valued at $308,500.
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 $30.0 and $65.0 for Occidental Petroleum, spanning the last three 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 $30.0 to $65.0 in the last 30 days.
Occidental Petroleum Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OXY | CALL | TRADE | BULLISH | 05/17/24 | $62.50 | $195.0K | 210 | 558 |
| OXY | PUT | SWEEP | BULLISH | 12/29/23 | $65.00 | $75.0K | 363 | 500 |
| OXY | PUT | SWEEP | BEARISH | 06/21/24 | $57.50 | $60.2K | 3.9K | 961 |
| OXY | CALL | TRADE | BULLISH | 02/16/24 | $30.00 | $47.2K | 6 | 0 |
| OXY | CALL | TRADE | BEARISH | 01/19/24 | $60.00 | $34.6K | 12.8K | 235 |
About Occidental Petroleum
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2022, the company reported net proved reserves of 3.8 billion barrels of oil equivalent. Net production averaged 1,159 thousand barrels of oil equivalent per day in 2022 at a ratio of 75% oil and natural gas liquids and 25% natural gas.
Following our analysis of the options activities associated with Occidental Petroleum, we pivot to a closer look at the company's own performance.
Occidental Petroleum's Current Market Status
- Currently trading with a volume of 3,662,221, the OXY's price is up by 0.74%, now at $60.74.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 68 days.
Professional Analyst Ratings for Occidental Petroleum
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $71.4.
- An analyst from Raymond James has decided to maintain their Strong Buy rating on Occidental Petroleum, which currently sits at a price target of $70.
- An analyst from Morgan Stanley upgraded its action to Overweight with a price target of $68.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Occidental Petroleum with a target price of $78.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Occidental Petroleum, targeting a price of $68.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Occidental Petroleum with a target price of $73.
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 Occidental Petroleum options trades with real-time alerts from Benzinga Pro.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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