Occidental Petroleum's Options: A Look at What the Big Money is Thinking
Portfolio Pulse from Benzinga Insights
High-rolling investors have shown a bearish sentiment on Occidental Petroleum (NYSE:OXY), with options data revealing a significant move. Benzinga's options scanner identified 9 trades, predominantly bearish, focusing on a price band between $52.5 and $62.5. The largest trades include both bullish and bearish calls with varying strike prices and expiration dates. Occidental Petroleum, an independent exploration and production company, is currently trading at $60.38, with analysts giving an average price target of $73.0.
February 16, 2024 | 3:46 pm
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High-rolling investors are bearish on OXY, with options data showing significant bearish activity. Analysts, however, maintain a higher price target of $73.0.
The bearish sentiment from high-rolling investors could put short-term pressure on OXY's stock price. However, the analysts' bullish price targets suggest underlying strength and potential upside, creating a mixed short-term outlook. The significant bearish options activity, contrasted with bullish analyst ratings, indicates uncertainty and potential volatility in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100