Benzinga's options scanner just detected over 10 options trades for Occidental Petroleum OXY summing a total amount of $721,978.
At the same time, our algo caught 5 for a total amount of 354,091.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $55.0 to $75.0 for Occidental Petroleum over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Occidental Petroleum stands at 2197.38, with a total volume reaching 1,646.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Occidental Petroleum, situated within the strike price corridor from $55.0 to $75.0, throughout the last 30 days.
Occidental Petroleum Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OXY | PUT | TRADE | BULLISH | 01/16/26 | $75.00 | $180.3K | 500 | 110 |
| OXY | CALL | TRADE | BULLISH | 06/21/24 | $55.00 | $157.1K | 557 | 0 |
| OXY | PUT | SWEEP | BULLISH | 01/19/24 | $65.00 | $84.5K | 3.7K | 192 |
| OXY | CALL | TRADE | BULLISH | 06/21/24 | $62.50 | $76.3K | 4.4K | 181 |
| OXY | CALL | TRADE | BULLISH | 01/05/24 | $60.00 | $66.5K | 2.6K | 854 |
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.
After a thorough review of the options trading surrounding Occidental Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Occidental Petroleum
- Trading volume stands at 1,093,320, with OXY's price down by -0.29%, positioned at $60.86.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 60 days.
What Analysts Are Saying About Occidental Petroleum
5 market experts have recently issued ratings for this stock, with a consensus target price of $71.4.
- Maintaining their stance, an analyst from Raymond James continues to hold a Strong Buy rating for Occidental Petroleum, targeting a price of $70.
- An analyst from Morgan Stanley upgraded its action to Overweight with a price target of $68.
- An analyst from JP Morgan has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $73.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Occidental Petroleum, targeting a price of $78.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Occidental Petroleum with a target price of $68.
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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