Behind the Scenes of Occidental Petroleum's Latest Options Trends
Portfolio Pulse from Benzinga Insights
Occidental Petroleum (NYSE:OXY) has seen significant options trading activity, with a bullish sentiment from big-money investors. Benzinga's options scanner revealed 10 unusual trades, split 70% bullish and 30% bearish. The trades target a price range of $50.0 to $75.0 for OXY over the next 3 months. The largest trades include both puts and calls with varying sentiments and strike prices. Currently, OXY's stock is up 0.6% at $57.32, with an RSI suggesting it may be approaching overbought territory. An earnings release is anticipated in 8 days, and an analyst from Raymond James maintains a Strong Buy rating with a target price of $68.
February 06, 2024 | 3:46 pm
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Occidental Petroleum has seen a bullish trend from big-money investors with a mix of puts and calls targeting a $50-$75 price range. The stock is currently up, with an earnings release expected soon, and a Strong Buy rating from Raymond James.
The bullish sentiment from big-money investors, combined with the upcoming earnings release and the Strong Buy rating from Raymond James, suggests a positive short-term outlook for OXY. The significant options activity and the analyst's target price further support this view.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100