Decoding Petrobras Brasileiro's Options Activity: What's the Big Picture?

Author: Benzinga Insights | August 29, 2024 10:01am

Investors with a lot of money to spend have taken a bullish stance on Petrobras Brasileiro (NYSE:PBR).

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 PBR, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 9 options trades for Petrobras Brasileiro.

This isn't normal.

The overall sentiment of these big-money traders is split between 11% bullish and 11%, bearish.

Out of all of the options we uncovered, 8 are puts, for a total amount of $2,803,107, and there was 1 call, for a total amount of $33,600.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $15.0 to $15.0 for Petrobras Brasileiro over the recent three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Petrobras Brasileiro's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Petrobras Brasileiro's significant trades, within a strike price range of $15.0 to $15.0, over the past month.

Petrobras Brasileiro Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
PBR	PUT	SWEEP	NEUTRAL	01/16/26	$2.52	$2.16	$2.32	$15.00	$580.5K	16.5K	6.0K
PBR	PUT	SWEEP	NEUTRAL	01/16/26	$2.51	$2.16	$2.34	$15.00	$464.0K	16.5K	11.4K
PBR	PUT	SWEEP	NEUTRAL	01/16/26	$2.52	$2.16	$2.32	$15.00	$463.8K	16.5K	6.0K
PBR	PUT	SWEEP	NEUTRAL	01/16/26	$2.53	$2.16	$2.3	$15.00	$463.6K	16.5K	1.0K
PBR	PUT	TRADE	NEUTRAL	01/16/26	$2.52	$2.16	$2.34	$15.00	$234.0K	16.5K	4.0K

About Petrobras Brasileiro

Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production of oil and gas in Brazilian offshore fields. Production in 2023 was 2.8 million barrels of oil equivalent a day (80% oil production), and reserves stood at 10.9 billion boe (85% oil). At end-2023, Petrobras operated 10 refineries in Brazil with capacity of 1.8 million barrels a day and distributes refined products and natural gas throughout Brazil.

Following our analysis of the options activities associated with Petrobras Brasileiro, we pivot to a closer look at the company's own performance.

Current Position of Petrobras Brasileiro

• Trading volume stands at 1,317,022, with PBR's price down by -1.54%, positioned at $15.36.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 70 days.

What The Experts Say On Petrobras Brasileiro

In the last month, 3 experts released ratings on this stock with an average target price of $18.266666666666666.

• Showing optimism, an analyst from Morgan Stanley upgrades its rating to Overweight with a revised price target of $20.
• An analyst from Goldman Sachs persists with their Buy rating on Petrobras Brasileiro, maintaining a target price of $16.
• An analyst from UBS has decided to maintain their Buy rating on Petrobras Brasileiro, which currently sits at a price target of $18.

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 Petrobras Brasileiro with Benzinga Pro for real-time alerts.

Posted In: PBR