Market Whales and Their Recent Bets on COP Options
Portfolio Pulse from Benzinga Insights
Financial giants have shown a bearish trend on ConocoPhillips (NYSE:COP) options, with 55% bearish and 44% bullish trades. Notable options activity includes both puts and calls with strike prices ranging from $125 to $160. Current market analysis shows COP's price slightly down with a potential overbought RSI. Analysts have mixed views, setting an average price target of $141.6, with individual targets ranging from $129 to $158. The company's performance includes 1.2 million barrels per day of oil and natural gas liquids production, with proven reserves of 6.6 billion barrels of oil equivalent.
April 10, 2024 | 7:46 pm
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NEUTRAL IMPACT
ConocoPhillips has seen a bearish trend in options trading, with a current slight price decrease and a potential overbought RSI. Analysts have mixed ratings but the average target suggests a positive outlook.
The bearish trend in options trading indicates short-term investor skepticism, potentially impacting COP's stock price negatively. However, the average analyst price target above the current trading price suggests a positive medium-term outlook. The mixed analyst ratings and the mention of a potentially overbought RSI add uncertainty, making the short-term impact neutral but worth monitoring for future changes.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 100