Investors with lots of money to spend have taken an optimistic stance Occidental Petroleum OXY.

And retailers should know.

That’s what we noticed today when the positions started showing up in the publicly available options history we track here at Benzinga.

We don’t know whether these are institutions or just wealthy individuals. But when something this big happens at OXY, it often means someone knows something is going to happen.

Today, Benzinga’s Options Scanner discovered 12 options trades Occidental Petroleum.

That’s not normal.

The overall sentiment of these major traders is 50% bullish and 33% bearish.

Of all the options we uncovered, there was 1 put totaling $34,000 and 11 calls totaling $629,865.

Estimated price range

Based on trading activity, it appears that major investors are targeting a price range between $37.5 and $70.0 for Occidental Petroleum over the past three months.

Volume and open interest development

In today’s trading context, the average open interest for Occidental Petroleum options is 6769.5, with a total volume of 14,642.00. The accompanying chart shows the movement of call and put option volume and open interest for high-value trades in Occidental Petroleum that are within the strike price range of $37.5 to $70.0 over the past 30 days.

Occidental Petroleum Call and Put Volume: 30-Day Overview

Largest options trades observed:

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 proven reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1,234,000 barrels of oil equivalent per day in 2023, at a ratio of approximately 50% oil and natural gas liquids and 50% natural gas.

After examining Occidental Petroleum’s options trading patterns, our attention now turns directly to the company. This shift allows us to delve deeper into current market position and performance

Current market status of Occidental Petroleum

• OXY price is currently trading at a volume of 6,480,224 and has increased by 1.82%, now at $52.48.
• The RSI readings suggest that the stock is currently neutral between overbought and oversold.
• The earnings are expected to be released in 35 days.

What the experts say about Occidental Petroleum

Five market experts recently gave ratings on this stock, with a consensus price target of $65.6.

Turn $1,000 into $1,270 in just 20 days?

The 20-year-old professional options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have averaged a 27% profit every 20 days. Click here for access. * A Wells Fargo analyst maintains his stance and maintains an Equal-Weight rating on Occidental Petroleum and is targeting a price of $56. * A UBS analyst consistently maintains a neutral rating on Occidental Petroleum with a price target of $59. * A Susquehanna analyst maintains a positive rating on Occidental Petroleum with a $78 price target in his rating. * An analyst at Evercore ISI Group maintains an “underperform” rating on Occidental Petroleum and maintains a $63 price target. * A Mizuho analyst maintains a Neutral rating on Occidental Petroleum with a $72 price target.

Trading options involve greater risks, but also offer the potential for higher profits. Experienced traders mitigate these risks through ongoing training, strategic trading adjustments, use of various indicators, and monitoring market dynamics. Stay on top of the latest Occidental Petroleum options trades with Benzinga Pro for real-time alerts.