Looking At Occidental Petroleum's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Recent unusual options activity in Occidental Petroleum (NYSE:OXY) indicates a bearish sentiment among deep-pocketed investors, with a significant portion of activity leaning towards puts over calls. The options activity suggests a price target range of $60.0 to $85.0. Despite this, analysts have mixed views on OXY, with target prices ranging from $69 to $90. The company's stock is currently down -3.12% at $66.21, with next earnings expected in 21 days.
April 16, 2024 | 3:16 pm
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Unusual options activity in OXY shows a bearish sentiment among investors, with a price target range of $60-$85. Analysts have mixed views, but the stock is currently experiencing a downturn.
The bearish sentiment from the unusual options activity, combined with the current stock price downturn, suggests a negative short-term impact. However, the mixed analyst ratings and the upcoming earnings report could introduce volatility or potential upside, hence the importance and confidence levels.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100