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Diamondback Energy Whale Trades Spotted

Someone with a lot of money to spend has taken a bearish stance on Diamondback Energy 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.

Today, Benzinga’s options scanner spotted 11 options trades for Diamondback Energy.

This isn’t normal.

The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $69,600, and 10, calls, for a total amount of $706,350..

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 $70.0 to $147.7 for Diamondback Energy over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $70.0 to $147.7 in the last 30 days.

Diamondback Energy 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
FANG CALL TRADE BULLISH 01/17/25 $70.00 $238.7K 40 40
FANG CALL SWEEP BULLISH 01/19/24 $145.35 $113.3K 434 52
FANG PUT SWEEP BULLISH 10/21/22 $125.00 $69.6K 528 125
FANG CALL SWEEP BEARISH 12/16/22 $140.35 $65.4K 8.1K 566
FANG CALL TRADE BEARISH 01/19/24 $145.35 $48.4K 434 140
Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
FANG CALL TRADE BULLISH 01/17/25 $70.00 $238.7K 40 40
FANG CALL SWEEP BULLISH 01/19/24 $145.35 $113.3K 434 52
FANG PUT SWEEP BULLISH 10/21/22 $125.00 $69.6K 528 125
FANG CALL SWEEP BEARISH 12/16/22 $140.35 $65.4K 8.1K 566
FANG CALL TRADE BEARISH 01/19/24 $145.35 $48.4K 434 140

Where Is Diamondback Energy Standing Right Now?

  • With a volume of 1,163,470, the price of FANG is down -0.89% at $127.65.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 39 days.

What The Experts Say On Diamondback Energy:

  • Morgan Stanley has decided to maintain their Overweight rating on Diamondback Energy, which currently sits at a price target of $175.
  • Keybanc downgraded its action to Overweight with a price target of $163
  • Citigroup has decided to maintain their Buy rating on Diamondback Energy, which currently sits at a price target of $155.

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 Diamondback Energy, Benzinga Pro gives you real-time options trades alerts.

This post was originally published on this site

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