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Unpacking the Latest Options Trading Trends in ConocoPhillips

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Deep-pocketed investors have adopted a bearish approach towards ConocoPhillips (NYSE:COP), and it’s something market players shouldn’t ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in COP usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 8 extraordinary options activities for ConocoPhillips. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 3 are puts, totaling $127,957, and 5 are calls, amounting to $309,130.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $105.0 to $145.0 for ConocoPhillips over the recent three months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for ConocoPhillips options trades today is 488.62 with a total volume of 1,417.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for ConocoPhillips’s big money trades within a strike price range of $105.0 to $145.0 over the last 30 days.

ConocoPhillips 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
COP CALL TRADE BULLISH 08/16/24 $2.4 $2.33 $2.4 $130.00 $144.0K 396 1.0K
COP CALL SWEEP BEARISH 06/20/25 $5.9 $5.85 $5.85 $145.00 $58.5K 481 100
COP PUT SWEEP BEARISH 06/20/25 $6.9 $6.8 $6.9 $110.00 $49.6K 1.6K 83
COP PUT SWEEP BEARISH 03/21/25 $5.65 $5.4 $5.53 $110.00 $48.2K 596 0
COP CALL SWEEP BEARISH 03/21/25 $8.65 $8.6 $8.6 $130.00 $43.0K 3 50

About ConocoPhillips

ConocoPhillips is a US-based independent exploration and production firm. In 2023, it produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end…

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