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What Are Whales Doing With Diamondback Energy

Someone with a lot of money to spend has taken a bearish stance on Diamondback Energy (NASDAQ:FANG).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don’t know. But when something this big happens with FANG, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga‘s options scanner spotted 16 uncommon options trades for Diamondback Energy.

This isn’t normal.

The overall sentiment of these big-money traders is split between 43% bullish and 56%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $381,145, and 12 are calls, for a total amount of $736,288.

What’s The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $135.0 for Diamondback Energy over the last 3 months.

Volume & Open Interest Development

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 Diamondback Energy’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 Diamondback Energy’s whale trades within a strike price range from $100.0 to $135.0 in the last 30 days.

Diamondback Energy Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
FANG PUT SWEEP BEARISH 03/18/22 $130.00 $292.6K 86 202
FANG CALL SWEEP BULLISH 03/18/22 $135.00 $243.3K 457 511
FANG CALL SWEEP BEARISH 03/18/22 $135.00 $60.6K 457 12.0K
FANG CALL SWEEP BULLISH 03/18/22 $135.00 $60.1K 457 1.7K
FANG CALL SWEEP BEARISH 03/18/22 $130.00 $52.6K 941 186

Where Is Diamondback Energy Standing Right Now?

  • With a volume of 2,655,492, the price of FANG is up 0.53% at $125.02.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 41 days.

What The Experts Say On Diamondback Energy:

  • Keybanc has decided to maintain their Overweight rating on Diamondback Energy, which currently sits at a price target of $125.

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.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

This post was originally published on this site

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