This Is What Whales Are Betting On Occidental Petroleum

Investors with a lot of money to spend have taken a bullish stance on Occidental Petroleum OXY.

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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with OXY, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for Occidental Petroleum.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $216,448, and 4 are calls, for a total amount of $198,638.

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 $50.0 and $90.0 for Occidental Petroleum, spanning the last three months.

Insights into 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 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 $50.0 to $90.0 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 PUT TRADE BEARISH 01/19/24 $65.00 $109.4K 3.7K 0
OXY CALL TRADE BEARISH 06/20/25 $75.00 $90.6K 444 0
OXY PUT SWEEP BEARISH 06/20/25 $50.00 $44.4K 1.1K 132
OXY CALL TRADE BULLISH 01/17/25 $90.00 $41.5K 1.2K 690
OXY CALL SWEEP BULLISH 06/20/25 $67.50 $39.4K 428 66

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.

In light of the recent options history for Occidental Petroleum, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Occidental Petroleum

  • With a trading volume of 1,685,851, the price of OXY is up by 0.49%, reaching $59.41.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 52 days from now.

Professional Analyst Ratings for Occidental Petroleum

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $70.4.

  • Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Occidental Petroleum with a target price of $73.
  • Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Occidental Petroleum with a target price of $78.
  • An analyst from Mizuho downgraded its action to Neutral with a price target of $63.
  • Consistent in their evaluation, an analyst from Raymond James keeps a Strong Buy rating on Occidental Petroleum with a target price of $70.
  • An analyst from Morgan Stanley upgraded its action to Overweight with a price target of $68.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Occidental Petroleum, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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