Occidental Petroleum Unusual Options Activity

Occidental Petroleum Corporation +0.87%

Occidental Petroleum Corporation




Whales with a lot of money to spend have taken a noticeably bearish stance on Occidental Petroleum.

Looking at options history for Occidental Petroleum (NYSE:OXY) we detected 18 trades.

If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $115,588 and 15, calls, for a total amount of $662,292.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $52.5 to $65.0 for Occidental Petroleum during the past quarter.

Analyzing Volume & Open Interest

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 $52.5 to $65.0 in the last 30 days.

Occidental Petroleum Option Activity Analysis: Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
OXY CALL SWEEP BEARISH 03/15/24 $60.00 $99.0K 11.4K 2.1K
OXY CALL SWEEP BEARISH 03/15/24 $60.00 $73.0K 11.4K 564
OXY CALL SWEEP BEARISH 03/15/24 $60.00 $72.2K 11.4K 1.0K
OXY CALL SWEEP BULLISH 06/21/24 $65.00 $67.2K 7.8K 474
OXY PUT TRADE BEARISH 09/20/24 $57.50 $49.4K 1.0K 133

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 2022, the company reported net proved reserves of 3.8 billion barrels of oil equivalent. Net production averaged 1,159 thousand barrels of oil equivalent per day in 2022 at a ratio of 75% oil and natural gas liquids and 25% 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 5,020,365, the price of OXY is down by -0.86%, reaching $57.72.
  • Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
  • Next earnings report is scheduled for 15 days from now.

What The Experts Say On Occidental Petroleum

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $65.5.

  • Reflecting concerns, an analyst from Mizuho lowers its rating to Neutral with a new price target of $63.
  • Consistent in their evaluation, an analyst from Raymond James keeps a Strong Buy rating on Occidental Petroleum with a target price of $68.

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.

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