A financial giant has made a conspicuous bearish move on Occidental Petroleum. Our analysis of options history for Occidental Petroleum (NYSE:OXY) revealed 13 unusual trades. Delving into the details, we found 38% of traders were bullish, while 61% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $682,370, and 7 were calls, valued at $312,929.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $67.5 for Occidental Petroleum over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $30.0 to $67.5 in the last 30 days.
Occidental Petroleum 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OXY | PUT | SWEEP | BULLISH | 03/15/24 | $60.00 | $390.8K | 799 | 2.0K |
| OXY | PUT | SWEEP | BULLISH | 11/17/23 | $62.50 | $145.0K | 5.2K | 1.2K |
| OXY | CALL | TRADE | BEARISH | 11/10/23 | $61.00 | $100.0K | 2.1K | 1.3K |
| OXY | PUT | TRADE | BEARISH | 05/17/24 | $50.00 | $62.5K | 141 | 510 |
| OXY | CALL | SWEEP | BEARISH | 12/15/23 | $60.00 | $51.7K | 2.5K | 78 |
Occidental Petroleum’s Current Market Status
- With a volume of 6,215,707, the price of OXY is up 1.94% at $61.37.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 110 days.
Expert Opinions on Occidental Petroleum:
- Stephens & Co. downgraded its action to Overweight with a price target of $74.
- Susquehanna persists with their Positive rating on Occidental Petroleum, maintaining a target price of $78.
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 Occidental Petroleum options trades with real-time alerts from Benzinga Pro.
