Financial giants have made a conspicuous bullish move on ConocoPhillips. Our analysis of options history for ConocoPhillips (NYSE:COP) revealed 9 unusual trades.
Delving into the details, we found 44% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $147,853, and 7 were calls, valued at $266,860.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $140.0 for ConocoPhillips over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of ConocoPhillips stands at 705.12, with a total volume reaching 330.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in ConocoPhillips, situated within the strike price corridor from $100.0 to $140.0, throughout the last 30 days.
ConocoPhillips Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COP | PUT | SWEEP | BULLISH | 01/17/25 | $30.7 | $29.1 | $29.1 | $140.00 | $101.8K | 331 | 0 |
| COP | CALL | SWEEP | BULLISH | 07/26/24 | $7.45 | $7.3 | $7.35 | $105.00 | $51.4K | 107 | 36 |
| COP | CALL | TRADE | BEARISH | 12/18/26 | $20.8 | $20.1 | $20.1 | $110.00 | $48.2K | 101 | 0 |
| COP | PUT | TRADE | BULLISH | 01/17/25 | $9.8 | $9.2 | $9.2 | $115.00 | $45.9K | 2.6K | 0 |
| COP | CALL | TRADE | BEARISH | 06/18/26 | $23.8 | $22.95 | $22.95 | $100.00 | $45.9K | 3 | 0 |
About ConocoPhillips
ConocoPhillips is a US-based independent exploration and production firm. In 2023, it produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2023 were 6.8 billion barrels of oil equivalent.
Where Is ConocoPhillips Standing Right Now?
- With a volume of 1,861,040, the price of COP is up 1.42% at $110.96.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 42 days.
What Analysts Are Saying About ConocoPhillips
In the last month, 5 experts released ratings on this stock with an average target price of $152.6.
- An analyst from Raymond James has revised its rating downward to Strong Buy, adjusting the price target to $159.
- An analyst from Barclays persists with their Overweight rating on ConocoPhillips, maintaining a target price of $160.
- An analyst from Mizuho has decided to maintain their Neutral rating on ConocoPhillips, which currently sits at a price target of $132.
- An analyst from Truist Securities persists with their Buy rating on ConocoPhillips, maintaining a target price of $165.
- An analyst from B of A Securities has revised its rating downward to Buy, adjusting the price target to $147.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for ConocoPhillips with Benzinga Pro for real-time alerts.