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). Of the 11 unusual trades detected, 72% were bearish and 27% bullish. The total amount for puts was $380,885 and for calls was $270,409. Whales have been targeting a price range from $60.0 to $80.0 for Occidental Petroleum over the last 3 months. The current price of OXY is $62.8. Analysts from Susquehanna, Stephens & Co., and UBS have given price targets of $78, $74, and $74 respectively.
October 24, 2023 | 3:16 pm
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Bearish options activity has been observed for Occidental Petroleum. The current price is $62.8 with whales targeting a price range of $60-$80. Analysts have given price targets of $78 and $74.
The bearish options activity indicates that investors are expecting the price of OXY to decrease. This, combined with the current price being at the lower end of the whale target range and below the analyst price targets, suggests a negative short term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100