BP Unusual Options Activity For May 31
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on BP (NYSE:BP) with 60% of detected trades being bearish. 7 puts amounting to $309,566 and 3 calls amounting to $121,398 were observed. Whales have been targeting a price range of $32.0 to $35.0 for BP over the last 3 months. Raymond James maintains an Outperform rating on BP with a price target of $47.

May 31, 2023 | 6:31 pm
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A whale has taken a bearish stance on BP with 60% of detected trades being bearish. Whales have been targeting a price range of $32.0 to $35.0 for BP over the last 3 months. Raymond James maintains an Outperform rating on BP with a price target of $47.
The bearish stance taken by a whale on BP, with 60% of detected trades being bearish, indicates a potential short-term negative impact on the stock price. However, Raymond James maintains an Outperform rating on BP with a price target of $47, which could provide some support to the stock price. The high relevance, importance, and confidence scores are due to the direct mention of BP and the significant whale activity.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100