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Looking At ConocoPhillips's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bearish stance on ConocoPhillips.

Looking at options history for ConocoPhillips COP we detected 10 strange trades.

If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 70% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $510,995 and 5, calls, for a total amount of $261,816.

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 $85.0 to $99.0 for ConocoPhillips 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 ConocoPhillips’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 ConocoPhillips’s whale trades within a strike price range from $85.0 to $99.0 in the last 30 days.

ConocoPhillips Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
COP PUT SWEEP BEARISH 01/19/24 $85.00 $342.2K 110 251
COP CALL SWEEP BEARISH 09/02/22 $99.00 $99.4K 6 757
COP CALL SWEEP BEARISH 09/02/22 $99.00 $69.8K 6 1.0K
COP PUT SWEEP BEARISH 09/16/22 $85.00 $66.0K 683 300
COP PUT TRADE BEARISH 01/19/24 $95.00 $45.9K 77 25
Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
COP PUT SWEEP BEARISH 01/19/24 $85.00 $342.2K 110 251
COP CALL SWEEP BEARISH 09/02/22 $99.00 $99.4K 6 757
COP CALL SWEEP BEARISH 09/02/22 $99.00 $69.8K 6 1.0K
COP PUT SWEEP BEARISH 09/16/22 $85.00 $66.0K 683 300
COP PUT TRADE BEARISH 01/19/24 $95.00 $45.9K 77 25

Where Is ConocoPhillips Standing Right Now?

  • With a volume of 3,432,426, the price of COP is up 0.15% at $95.24.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 2 days.

What The Experts Say On ConocoPhillips:

  • Morgan Stanley has decided to maintain their Overweight rating on ConocoPhillips, which currently sits at a price target of $117.
  • Truist Securities has decided to maintain their Buy rating on ConocoPhillips, which currently sits at a price target of $123.
  • Raymond James has decided to maintain their Strong Buy rating on ConocoPhillips, which currently sits at a price target of $135.
  • B of A Securities upgraded its action to Buy with a price target of $134
  • Piper Sandler has decided to maintain their Overweight rating on ConocoPhillips, which currently sits at a price target of $123.

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 want to stay updated on the latest options trades for ConocoPhillips, Benzinga Pro gives you real-time options trades alerts.

This post was originally published on this site

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