Decoding Occidental Petroleum's Options Activity: What's the Big Picture?
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Occidental Petroleum (NYSE:OXY) through significant options activity. Benzinga's options scanner highlighted 20 extraordinary options activities, with 60% being bearish. The projected price targets range from $50.0 to $67.5. The stock is currently trading at $56.44, down by 2.13%, with an earnings announcement expected in 2 days.
August 05, 2024 | 5:15 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Occidental Petroleum (NYSE:OXY) has seen significant bearish options activity, with 60% of the trades being puts. The stock is currently down by 2.13% at $56.44, and an earnings announcement is expected in 2 days.
The significant bearish options activity suggests that investors are expecting a decline in OXY's stock price. The upcoming earnings announcement could further impact the stock, especially if the results are below expectations.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100