Looking At Occidental Petroleum's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Unusual options activity has been observed in Occidental Petroleum (NYSE:OXY), with a bearish stance taken by a large investor. Benzinga's options scanner spotted 10 uncommon options trades, with 60% being bearish and 40% bullish. Whales have been targeting a price range of $23.0 to $75.0 for OXY over the last 3 months.
May 26, 2023 | 4:33 pm
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NEGATIVE IMPACT
A large investor has taken a bearish stance on Occidental Petroleum (NYSE:OXY) with unusual options activity. 60% of the trades are bearish, while 40% are bullish.
The unusual options activity indicates that a large investor is taking a bearish stance on Occidental Petroleum, which could lead to increased selling pressure and a potential short-term decline in the stock price. The 60% bearish sentiment outweighs the 40% bullish sentiment, suggesting that the market may react negatively to this news.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100