Occidental Petroleum Unusual Options Activity For June 21
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on Occidental Petroleum (NYSE:OXY), with 63% of detected unusual options trades being bearish. The total trade price for 6 puts is $225,851, while 5 calls amount to $726,605. Whales have been targeting a price range of $20 to $70 for OXY over the last 3 months.
June 21, 2023 | 4:05 pm
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A whale has taken a bearish stance on Occidental Petroleum, with 63% of detected unusual options trades being bearish. Whales have been targeting a price range of $20 to $70 for OXY over the last 3 months.
The bearish stance taken by a whale on Occidental Petroleum indicates that there is a significant amount of money betting on the stock's decline. This could lead to increased selling pressure and a potential short-term drop in the stock price. Additionally, the targeted price range of $20 to $70 suggests that there is uncertainty about the stock's future performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100