Deep-pocketed investors have adopted a bullish approach towards Occidental Petroleum (NYSE:OXY), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in OXY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 22 extraordinary options activities for Occidental Petroleum. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 68% leaning bullish and 27% bearish. Among these notable options, 4 are puts, totaling $186,333, and 18 are calls, amounting to $1,141,830.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $45.0 and $57.5 for Occidental Petroleum, spanning the last three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Occidental Petroleum options trades today is 4087.46 with a total volume of 20,477.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Occidental Petroleum's big money trades within a strike price range of $45.0 to $57.5 over the last 30 days.
Occidental Petroleum Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OXY | CALL | TRADE | BULLISH | 12/20/24 | $1.83 | $1.77 | $1.82 | $55.00 | $126.4K | 3.1K | 1.6K |
| OXY | CALL | SWEEP | BEARISH | 06/20/25 | $8.1 | $8.0 | $8.0 | $47.50 | $112.0K | 501 | 142 |
| OXY | CALL | SWEEP | BULLISH | 12/18/26 | $10.1 | $9.9 | $10.1 | $50.00 | $101.0K | 988 | 42 |
| OXY | CALL | SWEEP | BULLISH | 01/17/25 | $1.98 | $1.96 | $1.98 | $55.00 | $98.9K | 8.8K | 1.8K |
| OXY | PUT | SWEEP | BEARISH | 12/20/24 | $3.25 | $3.2 | $3.25 | $52.50 | $91.6K | 3.1K | 1 |
About Occidental Petroleum
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234 thousand barrels of oil equivalent per day in 2023 at a ratio of roughly 50% oil and natural gas liquids and 50% natural gas.
After a thorough review of the options trading surrounding Occidental Petroleum, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Occidental Petroleum's Current Market Status
- With a volume of 7,340,371, the price of OXY is up 0.25% at $51.18.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 50 days.
What Analysts Are Saying About Occidental Petroleum
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $73.33333333333333.
- Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Occidental Petroleum, targeting a price of $70.
- An analyst from Susquehanna has decided to maintain their Positive rating on Occidental Petroleum, which currently sits at a price target of $78.
- An analyst from Mizuho persists with their Neutral rating on Occidental Petroleum, maintaining a target price of $72.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
