Financial experts have shown a negative outlook on ConocoPhillips, making a significant bearish move. Our analysis of the company’s options history uncovered 9 unusual trades.
Looking closely, we observed that 22% of traders were optimistic about the stock, while 44% displayed bearish sentiments. Among the trades we identified, 3 were puts amounting to $185,205, and 6 were calls totaling $315,113.
Predicted Price Ranges
Based on the Volume and Open Interest in these transactions, it appears that major players have been targeting a price range between $105.0 and $125.0 for ConocoPhillips in the last quarter.
Trends in Volume & Open Interest
Examining the volume and open interest is crucial in options trading. These metrics provide insights into liquidity and investor interest in ConocoPhillips’s options at specific strike prices. The data below illustrates the changes in volume and open interest for calls and puts linked to substantial trades for ConocoPhillips within a strike price range from $105.0 to $125.0 over the past month.
Noteworthy Options Activity:
Symbol
PUT/CALL
Trade Type
Sentiment
Exp. Date
Ask
Bid
Price
Strike Price
Total Trade Price
Open Interest
Volume
COP
CALL
TRADE
BULLISH
11/15/24
$0.55
$0.48
$0.55
$125.00
$108.6K
3.6K
1.9K
COP
PUT
TRADE
BEARISH
01/17/25
$4.65
$4.5
$4.6
$105.00
$90.6K
2.5K
402
COP
PUT
SWEEP
BEARISH
01/17/25
$4.55
$4.45
$4.55
$105.00
$68.7K
2.5K
151
COP
CALL
SWEEP
NEUTRAL
10/25/24
$1.34
$1.2
$1.3
$114.00
$66.9K
22
516
COP
CALL
SWEEP
BULLISH
10/18/24
$2.09
$2.05
$2.05
$110.00
$46.6K
4.3K
311
About ConocoPhillips
ConocoPhillips is an independent oil and gas exploration company based in the US. 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, the Lower 48 states in the US, Norway, Asia-Pacific, and the Middle East. Its proven reserves at the end of 2023 stood at 6.8 billion barrels of oil equivalent.
Given the recent options activity surrounding ConocoPhillips, it is pertinent to delve into the company’s performance.
Current Market Status of ConocoPhillips
• The stock is currently trading at $110.02 with a volume of 5,277,196, reflecting a 0.14% increase.
• Relative Strength Index (RSI) readings indicate that the stock is currently in a neutral position, neither overbought nor oversold.
• Earnings release is anticipated in 38 days.
Expert Opinions on ConocoPhillips
In the last 30 days, 4 professional analysts have shared their views on the stock, setting an average price target of $139.0.
Unusual Options Activity Detected: Smart Money on the Move
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* An analyst from UBS consistently maintains a Buy rating on ConocoPhillips with a target price of $140.
* Mizuho’s analyst remains neutral on ConocoPhillips, holding a Neutral rating with a target price of $129.
* An analyst from Susquehanna continues to have a Positive rating on ConocoPhillips, setting a target price of $147.
* RBC Capital’s analyst downgraded the stock to Outperform with a price target of $140.
Trading options involves risks but also offers the potential for higher returns. Knowledgeable traders manage these risks through continuous learning, strategic adjustments, using various indicators, and staying informed about market trends. Stay updated on the latest options trades for ConocoPhillips with Benzinga Pro for real-time alerts. Market News and Data provided by Benzinga APIs © 2024 Benzinga.com. Benzinga does not offer investment advice. All rights reserved.
