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Schlumberger's Options Frenzy: What You Need to Know

Author: Benzinga Insights | June 20, 2024 11:01am

Whales with a lot of money to spend have taken a noticeably bullish stance on Schlumberger.

Looking at options history for Schlumberger (NYSE:SLB) we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 75% of the investors opened trades with bullish expectations and 25% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $239,745 and 2, calls, for a total amount of $51,800.

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 $43.0 to $50.0 for Schlumberger during the past quarter.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Schlumberger stands at 3003.83, with a total volume reaching 338.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Schlumberger, situated within the strike price corridor from $43.0 to $50.0, throughout the last 30 days.

Schlumberger Call and Put Volume: 30-Day Overview

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
SLB PUT TRADE BEARISH 11/15/24 $4.1 $4.05 $4.1 $47.50 $61.5K 858 7
SLB PUT TRADE BULLISH 06/20/25 $7.25 $7.15 $7.15 $50.00 $49.3K 2.9K 0
SLB PUT SWEEP BULLISH 08/16/24 $3.45 $3.35 $3.37 $47.50 $33.7K 3.4K 100
SLB PUT TRADE BEARISH 08/16/24 $3.35 $3.2 $3.35 $47.50 $33.5K 3.4K 0
SLB PUT SWEEP BULLISH 07/19/24 $2.35 $1.61 $1.61 $45.00 $32.2K 9.3K 0

About Schlumberger

SLB is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions. It maintains a reputation as one of the industry's leading innovators, which has earned it dominant share in numerous end markets.

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

Schlumberger's Current Market Status

  • With a volume of 3,309,542, the price of SLB is up 2.23% at $45.43.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 29 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 Schlumberger with Benzinga Pro for real-time alerts.

Posted In: SLB