ConocoPhillips Unusual Options Activity For August 11
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on ConocoPhillips (NYSE:COP) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 42% bullish and 57% bearish. Whales have been targeting a price range from $90.0 to $125.0 for ConocoPhillips over the last 3 months. The current price of COP is up 1.71% at $117.81. Analysts from Raymond James, Truist Securities, and Wells Fargo maintain a positive rating on COP, while Morgan Stanley downgraded its action to Overweight.
August 11, 2023 | 8:15 pm
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Unusual options activity indicates a significant bearish stance on ConocoPhillips. The sentiment among big-money traders is split, with a slight lean towards bearish. Analyst ratings are mostly positive.
The unusual options activity, with a significant bearish stance, indicates that large investors are expecting the price of ConocoPhillips to decrease. This could potentially lead to a short-term drop in the stock price. However, the analyst ratings are mostly positive, which could counteract some of the bearish sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100