Whales with a lot of money to spend have taken a noticeably bullish stance on Occidental Petroleum ( OXY ).

Looking at options history for Occidental Petroleum ( OXY ) we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 44% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $203,760 and 7, calls, for a total amount of $659,920.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $65.0 for Occidental Petroleum ( OXY ) over the last 3 months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Occidental Petroleum's ( OXY ) options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Occidental Petroleum's ( OXY ) significant trades, within a strike price range of $40.0 to $65.0, over the past month.

Occidental Petroleum 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Occidental Petroleum

Occidental Petroleum ( OXY ) 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.

Following our analysis of the options activities associated with Occidental Petroleum ( OXY ), we pivot to a closer look at the company's own performance.

Present Market Standing of Occidental Petroleum

Trading volume stands at 4,072,063, with OXY's price down by -1.49%, positioned at $51.26.

RSI indicators show the stock to be may be oversold.

Earnings announcement expected in 46 days.

Expert Opinions on Occidental Petroleum

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $69.66666666666667.

Unusual Options Activity Detected: Smart Money on the Move

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* An analyst from UBS persists with their Neutral rating on Occidental Petroleum ( OXY ), maintaining a target price of $59.

* Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Occidental Petroleum ( OXY ), targeting a price of $78.

* Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on Occidental Petroleum ( OXY ) with a target price of $72.

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 Occidental Petroleum ( OXY ) options trades with real-time alerts from Benzinga Pro.