Investors with a lot of money to spend have taken a bullish stance on BHP Group BHP.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with BHP, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for BHP Group.
This isn't normal.
The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.
Out of all of the options we uncovered, 7 are puts, for a total amount of $704,640, and there was 1 call, for a total amount of $26,200.
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 $42.5 to $100.0 for BHP Group 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 BHP Group's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across BHP Group's significant trades, within a strike price range of $42.5 to $100.0, over the past month.
BHP Group Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BHP | PUT | TRADE | BEARISH | 08/16/24 | $95.00 | $248.3K | 40 | 0 |
| BHP | PUT | TRADE | BULLISH | 01/19/24 | $67.50 | $97.7K | 487 | 21 |
| BHP | PUT | SWEEP | BULLISH | 06/21/24 | $90.00 | $82.4K | 603 | 40 |
| BHP | PUT | SWEEP | BULLISH | 08/16/24 | $85.00 | $80.0K | 0 | 44 |
| BHP | PUT | SWEEP | BULLISH | 06/21/24 | $85.00 | $72.4K | 492 | 0 |
About BHP Group
BHP is a global diversified miner mainly supplying iron ore and copper. The merger of BHP Limited and Billiton PLC created the present-day BHP Group. The dual listed structure from the 2001 BHP and Billiton merger was collapsed in 2022. Major assets include Pilbara iron ore and Escondida copper. Onshore U.S. oil and gas assets were sold in 2018 and the remaining Petroleum assets were spun off and merged with Woodside in 2022, with BHP vesting the Woodside shares it received to BHP shareholders. BHP is growing its nickel business to supply more battery grade nickel and is also entering the potash market through the development of its Jansen mine in Canada. It also purchased copper miner Oz Minerals in fiscal 2023.
Following our analysis of the options activities associated with BHP Group, we pivot to a closer look at the company's own performance.
Current Position of BHP Group
- Trading volume stands at 1,018,359, with BHP's price down by -0.42%, positioned at $68.02.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 51 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 BHP Group with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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