Financial giants have made a conspicuous bullish move on Occidental Petroleum. Our analysis of options history for Occidental Petroleum (NYSE:OXY) revealed 12 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $442,857, and 4 were calls, valued at $493,465.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $70.0 for Occidental Petroleum over the recent three 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 $55.0 to $70.0 in the last 30 days.
Occidental Petroleum 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OXY | CALL | SWEEP | NEUTRAL | 06/21/24 | $3.05 | $3.0 | $3.05 | $60.00 | $304.4K | 5.9K | 1.0K |
| OXY | PUT | SWEEP | BULLISH | 06/07/24 | $2.84 | $2.76 | $2.76 | $65.00 | $136.1K | 72 | 8 |
| OXY | CALL | SWEEP | BULLISH | 08/16/24 | $2.35 | $2.31 | $2.35 | $65.00 | $89.0K | 4.3K | 582 |
| OXY | PUT | TRADE | BEARISH | 01/17/25 | $1.67 | $1.63 | $1.66 | $55.00 | $76.3K | 21.4K | 461 |
| OXY | CALL | SWEEP | BEARISH | 05/31/24 | $0.26 | $0.25 | $0.25 | $65.00 | $75.0K | 258 | 2.9K |
About Occidental Petroleum
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.
Having examined the options trading patterns of Occidental Petroleum, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Occidental Petroleum
- With a trading volume of 3,760,219, the price of OXY is up by 0.03%, reaching $63.08.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 77 days from now.
What The Experts Say On Occidental Petroleum
In the last month, 4 experts released ratings on this stock with an average target price of $74.0.
- An analyst from Wells Fargo persists with their Equal-Weight rating on Occidental Petroleum, maintaining a target price of $68.
- An analyst from Mizuho has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $71.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Occidental Petroleum with a target price of $81.
- An analyst from Mizuho persists with their Neutral rating on Occidental Petroleum, maintaining a target price of $76.
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.