Investors with a lot of money to spend have taken a bullish stance on BP (NYSE:BP).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BP, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for BP.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 36%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $34,933, and 10, calls, for a total amount of $546,939.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $23.0 to $33.0 for BP during the past quarter.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in BP's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to BP's substantial trades, within a strike price spectrum from $23.0 to $33.0 over the preceding 30 days.
BP Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BP | CALL | SWEEP | NEUTRAL | 12/18/26 | $9.5 | $9.35 | $9.5 | $23.00 | $94.0K | 385 | 178 |
| BP | CALL | SWEEP | BULLISH | 01/17/25 | $4.6 | $4.5 | $4.6 | $28.00 | $86.9K | 365 | 189 |
| BP | CALL | SWEEP | BEARISH | 10/04/24 | $0.42 | $0.38 | $0.39 | $32.00 | $86.9K | 8.4K | 4.7K |
| BP | CALL | SWEEP | BEARISH | 10/04/24 | $0.38 | $0.31 | $0.31 | $32.00 | $69.3K | 8.4K | 7.3K |
| BP | CALL | SWEEP | BULLISH | 01/15/27 | $9.5 | $9.45 | $9.5 | $23.00 | $43.7K | 60 | 46 |
About BP
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2023, reserves stood at 6.8 billion barrels of oil equivalent, 55% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day.
Following our analysis of the options activities associated with BP, we pivot to a closer look at the company's own performance.
BP's Current Market Status
- Currently trading with a volume of 7,681,813, the BP's price is down by -0.13%, now at $31.35.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 28 days.
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Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest BP options trades with real-time alerts from Benzinga Pro.