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High-rolling investors have positioned themselves bullish on Occidental Petroleum (NYSE:OXY), and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in OXY often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 12 options trades for Occidental Petroleum. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $30,500, and 11 calls, totaling $545,663.
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 $70.0 for Occidental Petroleum over the last 3 months.
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 $30.0 to $70.0 in the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| OXY | CALL | TRADE | BEARISH | 07/19/24 | $67.50 | $121.0K | 718 | 500 |
| OXY | CALL | TRADE | BEARISH | 04/19/24 | $40.00 | $86.2K | 145 | 0 |
| OXY | CALL | SWEEP | BULLISH | 05/17/24 | $67.50 | $67.0K | 2.1K | 12 |
| OXY | CALL | SWEEP | BULLISH | 04/19/24 | $62.50 | $41.1K | 10.8K | 400 |
| OXY | CALL | TRADE | BULLISH | 01/17/25 | $55.00 | $39.6K | 1.6K | 55 |
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 4.0 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.
After a thorough review of the options trading surrounding Occidental Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
In the last month, 1 experts released ratings on this stock with an average target price of $69.0.
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 Occidental Petroleum with Benzinga Pro for real-time alerts.
Posted In: OXY
