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A look at Occidental Petroleum’s recent whale trade – Benzinga

Someone with a lot of money to spend has taken a bullish stance on western oil OXY.

And retailers should know that.

We noticed this today when the big position appeared on the history of publicly available options we track here at Benzinga.

Whether it is an institution or just a wealthy individual, we don’t know. But when something this big happens with OXY, it often means someone knows something is going to happen.

So how do we know what this whale just did?

Today, Benzinga’s options scanner spotted 40 unusual options trades for Occidental Petroleum.

It is not normal.

The general sentiment of these big traders is split between 50% bullish and 50% bearish.

Of all the special options we discovered, 9 are put options, totaling $513,842, and 31 are call options, totaling $1,664,198.

What is the target price?

Given the volume and open interest on these contracts, it appears that whales have been targeting a price range of $22.0 to $75.0 for Occidental Petroleum over the past 3 months.

Development of volume and open interest

Watching volume and open interest is a powerful move when trading options. This data can help you track the liquidity and interest of Occidental Petroleum options for a given strike price. Below we can observe the evolution of call volume and open interest and put options, respectively, for all Occidental Petroleum whale trades within a strike price range of 22.0 $ to $75.0 in the last 30 days.

Occidental Petroleum Option Volume and Open Interest in the Last 30 Days

The biggest options spotted:

Symbol PUT/CALL Kind of trade Feeling Exp. Date Strike price Total trade price open interest Volume
OXY CALL TRADE BEARISH 01/20/23 $22.00 $298,500 33.9K 251
OXY PUT SWEEP BULLISH 07/15/22 $60.00 $112,300 3.9K 2.5K
OXY CALL TRADE BULLISH 10/21/22 $60.00 $89,000 1.4K 211
OXY CALL SWEEP BULLISH 08/19/22 $70.00 $79.8,000 10.7K 20
OXY PUT SWEEP BULLISH 07/01/22 $61.00 $72,300 249 2.6K
Symbol PUT/CALL Kind of trade Feeling Exp. Date Strike price Total trade price open interest Volume
OXY CALL TRADE BEARISH 01/20/23 $22.00 $298,500 33.9K 251
OXY PUT SWEEP BULLISH 07/15/22 $60.00 $112,300 3.9K 2.5K
OXY CALL TRADE BULLISH 10/21/22 $60.00 $89,000 1.4K 211
OXY CALL SWEEP BULLISH 08/19/22 $70.00 $79.8,000 10.7K 20
OXY PUT SWEEP BULLISH 07/01/22 $61.00 $72,300 249 2.6K

Where is Occidental Petroleum right now?

  • With a volume of 22,876,623, the price of OXY is up 3.01% to $60.67.
  • RSI indicators suggest that the underlying stock is currently neutral between overbought and oversold.
  • The next results should be published in 35 days.

What experts say about Occidental Petroleum:

  • Morgan Stanley has decided to maintain its Equal-Weight rating on Occidental Petroleum, which currently sits at a price target of $74.
  • Morgan Stanley has decided to maintain its Equal-Weight rating on Occidental Petroleum, which currently sits at a price target of $73.
  • Evercore ISI Group downgraded its stock to In-Line with a price target of $74
  • Barclays has decided to maintain its overweight rating on Occidental Petroleum, which currently sits at a price target of $84.
  • Mizuho has decided to maintain its Buy rating on Occidental Petroleum, which currently sits at a price target of $89.

Options are a riskier asset than just trading stocks, but they have a higher profit potential. Serious options traders manage this risk by educating themselves daily, increasing and decreasing trades, following more than one indicator, and following the markets closely.

If you want to stay up to date on the latest options trades for Occidental Petroleum, Benzinga Pro gives you real-time options trade alerts.

#Occidental #Petroleums #whale #trade #Benzinga

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