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Deep-pocketed investors have adopted a bullish approach towards Occidental Petroleum (NYSE:OXY), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in OXY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 25 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 36% bearish. Among these notable options, 16 are puts, totaling $973,358, and 9 are calls, amounting to $343,062.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $72.5 for Occidental Petroleum during the past quarter.
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 $40.0 to $72.5 in the last 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|---|---|---|
OXY | PUT | SWEEP | BEARISH | 10/18/24 | $6.15 | $6.1 | $6.14 | $60.00 | $122.8K | 1.5K | 206 |
OXY | PUT | SWEEP | BEARISH | 09/13/24 | $1.17 | $1.16 | $1.17 | $55.00 | $117.0K | 2.2K | 41 |
OXY | PUT | TRADE | BEARISH | 01/17/25 | $3.4 | $3.3 | $3.39 | $55.00 | $101.7K | 22.0K | 426 |
OXY | PUT | TRADE | BEARISH | 10/18/24 | $1.91 | $1.9 | $1.91 | $55.00 | $75.8K | 6.5K | 531 |
OXY | PUT | TRADE | NEUTRAL | 01/17/25 | $4.8 | $4.7 | $4.75 | $57.50 | $71.2K | 26.0K | 505 |
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 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% 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.
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $70.8.
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.
Posted In: OXY