Occidental Petroleum Unusual Options Activity For August 29
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Occidental Petroleum (NYSE:OXY) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is split between 46% bullish and 53% bearish. The whales have been targeting a price range from $57.5 to $75.0 for Occidental Petroleum over the last 3 months. Several experts have downgraded their ratings on OXY, with price targets ranging from $60 to $80.
August 29, 2023 | 7:01 pm
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NEGATIVE IMPACT
Occidental Petroleum has seen unusual options activity with a significant bearish stance taken by a large investor. Expert ratings have been downgraded with price targets ranging from $60 to $80.
The bearish stance taken by a large investor in the options market indicates a potential downside for the stock. This is further supported by the downgraded ratings from experts. The price targets set by these experts suggest a potential decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100