Spotlight on ConocoPhillips: Analyzing the Surge in Options Activity
Portfolio Pulse from Benzinga Insights
ConocoPhillips (NYSE:COP) has seen a surge in options activity, with a significant portion of investors adopting a bearish stance. The options activity includes 14 notable trades, with 57% of investors leaning bearish. The stock is currently trading at $104.32, with a consensus target price of $137.6 from analysts. The anticipated earnings release is in 34 days.
September 27, 2024 | 7:17 pm
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ConocoPhillips has experienced a notable increase in options activity, with a majority of investors showing a bearish sentiment. The stock is currently trading at $104.32, with analysts setting a target price of $137.6. The upcoming earnings release in 34 days could influence future price movements.
The significant bearish sentiment among options traders suggests potential downward pressure on COP's stock price in the short term. However, the stock's current price is below the analyst consensus target, indicating potential for future gains. The upcoming earnings release could be a catalyst for price movement.
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