Occidental Petroleum Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of bearish options activity has been observed for Occidental Petroleum (NYSE:OXY), with 63% of investors opening trades with bearish expectations. The total amount for puts is $620,132 and for calls is $227,321. Whales have been targeting a price range from $40.0 to $72.5 for Occidental Petroleum over the last 3 months. The current price of OXY is down -0.55% at $65.01. Mizuho maintains a Buy rating with a price target of $76, UBS maintains a Neutral rating with a price target of $74, and Stephens & Co. downgraded its action to Overweight with a price target of $74.
October 17, 2023 | 5:45 pm
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Bearish options activity observed for Occidental Petroleum. Whales targeting price range $40.0-$72.5. Current price down -0.55% at $65.01.
The bearish options activity indicates that investors are expecting the price of Occidental Petroleum to decrease. This, combined with the current downward trend in price, suggests a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100