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Looking At Occidental Petroleum’s Recent Unusual Options Activity

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Financial giants have made a conspicuous bullish move on Occidental Petroleum. Our analysis of options history for Occidental Petroleum (NYSE:OXY) revealed 12 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 25% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $442,857, and 4 were calls, valued at $493,465.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $70.0 for Occidental Petroleum over the recent three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Occidental Petroleum’s options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Occidental Petroleum’s whale trades within a strike price range from $55.0 to $70.0 in the last 30 days.

Occidental Petroleum Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
OXY CALL SWEEP NEUTRAL 06/21/24 $3.05 $3.0 $3.05 $60.00 $304.4K 5.9K 1.0K
OXY PUT SWEEP BULLISH 06/07/24 $2.84 $2.76 $2.76 $65.00 $136.1K 72 8
OXY CALL SWEEP BULLISH 08/16/24 $2.35 $2.31 $2.35 $65.00 $89.0K 4.3K 582
OXY PUT TRADE BEARISH 01/17/25 $1.67 $1.63 $1.66 $55.00 $76.3K 21.4K 461
OXY CALL SWEEP BEARISH 05/31/24 $0.26 $0.25 $0.25 $65.00 $75.0K 258 2.9K

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.

Having examined the options trading patterns of Occidental Petroleum, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Occidental Petroleum

With a trading…

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