Financial giants have made a conspicuous bullish move on Phillips 66. Our analysis of options history for Phillips 66 (NYSE:PSX) revealed 9 unusual trades.
Delving into the details, we found 77% of traders were bullish, while 11% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $610,050, and 2 were calls, valued at $119,402.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $90.0 to $175.0 for Phillips 66 over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Phillips 66 options trades today is 208.2 with a total volume of 602.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Phillips 66's big money trades within a strike price range of $90.0 to $175.0 over the last 30 days.
Phillips 66 Option Activity Analysis: 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PSX | PUT | TRADE | BULLISH | 06/07/24 | $29.8 | $27.8 | $28.5 | $175.00 | $285.0K | 110 | 100 |
| PSX | PUT | SWEEP | BULLISH | 05/17/24 | $30.8 | $29.0 | $29.0 | $175.00 | $150.8K | 507 | 52 |
| PSX | CALL | TRADE | BULLISH | 01/16/26 | $37.1 | $34.8 | $37.1 | $120.00 | $74.2K | 84 | 20 |
| PSX | CALL | SWEEP | BEARISH | 06/21/24 | $58.1 | $55.9 | $56.33 | $90.00 | $45.2K | 17 | 8 |
| PSX | PUT | SWEEP | BULLISH | 05/17/24 | $29.9 | $29.0 | $29.0 | $175.00 | $43.5K | 507 | 78 |
About Phillips 66
Phillips 66 is an independent refiner with 12 refineries that have a total crude throughput capacity of 1.8 million barrels per day, or mmb/d. In 2023, the Rodeo, California, facility ceased operations and be converted to produce renewable diesel. The midstream segment comprises extensive transportation and NGL processing assets and includes DCP Midstream, which holds 600 mbd of NGL fractionation and 22,000 miles of pipeline. Its CPChem chemical joint venture operates facilities in the United States and the Middle East and primarily produces olefins and polyolefins.
Where Is Phillips 66 Standing Right Now?
- Trading volume stands at 1,233,764, with PSX's price up by 1.83%, positioned at $147.35.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 75 days.
Expert Opinions on Phillips 66
In the last month, 3 experts released ratings on this stock with an average target price of $157.33333333333334.
- An analyst from Barclays persists with their Equal-Weight rating on Phillips 66, maintaining a target price of $147.
- Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Phillips 66 with a target price of $155.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Phillips 66, targeting a price of $170.
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.