Decoding Diamondback Energy's Options Activity: What's the Big Picture?

Author: Benzinga Insights | July 19, 2024 04:31pm

Financial giants have made a conspicuous bearish move on Diamondback Energy. Our analysis of options history for Diamondback Energy (NASDAQ:FANG) revealed 8 unusual trades.

Delving into the details, we found 12% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $91,850, and 5 were calls, valued at $152,830.

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 $166.75 to $220.0 for Diamondback Energy during the past quarter.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Diamondback Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Diamondback Energy's substantial trades, within a strike price spectrum from $166.75 to $220.0 over the preceding 30 days.

Diamondback Energy Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
FANG	CALL	TRADE	BULLISH	07/19/24	$40.2	$37.1	$39.2	$166.75	$39.2K	28	1
FANG	PUT	SWEEP	NEUTRAL	01/16/26	$32.5	$28.8	$30.85	$216.75	$30.7K	0	427
FANG	PUT	SWEEP	NEUTRAL	01/16/26	$32.0	$29.3	$30.74	$216.75	$30.6K	0	378
FANG	PUT	SWEEP	NEUTRAL	01/16/26	$32.0	$28.8	$30.38	$216.75	$30.3K	0	312
FANG	CALL	TRADE	BEARISH	07/26/24	$0.35	$0.2	$0.2	$220.00	$30.0K	106	100

About Diamondback Energy

Diamondback Energy is an independent oil and gas producer in the United States. The company operates exclusively in the Permian Basin. At the end of 2023, the company reported net proven reserves of 2.2 billion barrels of oil equivalent. Net production averaged about 448,000 barrels per day in 2023, at a ratio of 59% oil, 21% natural gas liquids, and 20% natural gas.

Diamondback Energy's Current Market Status

• With a volume of 1,325,225, the price of FANG is down -2.17% at $205.47.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 17 days.

Professional Analyst Ratings for Diamondback Energy

5 market experts have recently issued ratings for this stock, with a consensus target price of $221.8.

• An analyst from Bernstein has decided to maintain their Outperform rating on Diamondback Energy, which currently sits at a price target of $236.
• An analyst from Keybanc has revised its rating downward to Overweight, adjusting the price target to $225.
• Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Outperform rating on Diamondback Energy with a target price of $245.
• An analyst from Benchmark downgraded its action to Buy with a price target of $154.
• An analyst from Piper Sandler persists with their Overweight rating on Diamondback Energy, maintaining a target price of $249.

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 Diamondback Energy options trades with real-time alerts from Benzinga Pro.

Posted In: FANG