Benzinga's options scanner has just identified more than 8 option transactions on Petrobras Brasileiro (NYSE:PBR), with a cumulative value of $722,544. Concurrently, our algorithms picked up 4 puts, worth a total of 573,172.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $12.0 to $17.0 for Petrobras Brasileiro during the past quarter.
Volume & Open Interest Trends
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 $12.0 to $17.0, over the past month.
Petrobras Brasileiro Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PBR | PUT | TRADE | BULLISH | 07/19/24 | $0.33 | $0.32 | $0.3 | $14.00 | $300.0K | 9.7K | 10.2K |
| PBR | PUT | TRADE | BULLISH | 06/21/24 | $0.2 | $0.19 | $0.17 | $14.00 | $170.0K | 556 | 10.0K |
| PBR | CALL | SWEEP | BULLISH | 01/16/26 | $2.85 | $2.8 | $2.85 | $13.00 | $79.2K | 2.9K | 280 |
| PBR | PUT | TRADE | BULLISH | 06/21/24 | $1.3 | $1.17 | $1.18 | $16.00 | $77.1K | 2.6K | 685 |
| PBR | CALL | TRADE | BEARISH | 07/19/24 | $0.36 | $0.34 | $0.34 | $16.00 | $47.3K | 8.1K | 2.6K |
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.
After a thorough review of the options trading surrounding Petrobras Brasileiro, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Petrobras Brasileiro
- Trading volume stands at 15,697,327, with PBR's price down by -0.06%, positioned at $15.55.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 77 days.
Expert Opinions on Petrobras Brasileiro
In the last month, 1 experts released ratings on this stock with an average target price of $17.7.
- In a cautious move, an analyst from Jefferies downgraded its rating to Hold, setting a price target of $17.
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.