High-rolling investors have positioned themselves bearish on Callon Petroleum CPE, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CPE often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 13 options trades for Callon Petroleum. This is not a typical pattern.
The sentiment among these major traders is split, with 23% bullish and 76% bearish. Among all the options we identified, there was one put, amounting to $127,500, and 12 calls, totaling $796,984.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $38.0 for Callon Petroleum over the recent three months.
Analyzing Volume & Open Interest
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 Callon 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 Callon Petroleum's whale activity within a strike price range from $30.0 to $38.0 in the last 30 days.
Callon Petroleum 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CPE | CALL | SWEEP | BEARISH | 04/19/24 | $35.00 | $165.0K | 624 | 500 |
| CPE | CALL | SWEEP | BEARISH | 04/19/24 | $35.00 | $159.7K | 624 | 701 |
| CPE | CALL | TRADE | BULLISH | 01/19/24 | $38.00 | $135.0K | 5.0K | 11 |
| CPE | PUT | SWEEP | BEARISH | 04/19/24 | $35.00 | $127.5K | 167 | 0 |
| CPE | CALL | SWEEP | BEARISH | 01/19/24 | $35.00 | $86.4K | 4.4K | 1.1K |
About Callon Petroleum
Callon Petroleum Company engages in the exploration, development, acquisition, and production of oil and natural gas. Activities are primarily conducted in the Permian Basin region of West Texas and southeastern New Mexico. Callon relies heavily on the latest horizontal production techniques to extract hydrocarbon products from its assets, with crude oil accounting for over half of production. Historically, a handful of marketing and trading companies have accounted for the majority of the sales for Callon's oil and gas production. Assets are acquired through the drilling of emerging zones on existing acreage but also by acquiring additional locations through leasehold purchases, leasing programs, joint ventures, and asset swaps.
After a thorough review of the options trading surrounding Callon Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Callon Petroleum Standing Right Now?
- With a trading volume of 12,657,415, the price of CPE is up by 5.05%, reaching $35.35.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 48 days from now.
Expert Opinions on Callon Petroleum
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $40.0.
- An analyst from Mizuho has revised its rating downward to Neutral, adjusting the price target to $40.
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 Callon Petroleum with Benzinga Pro for real-time alerts.
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