Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Benzinga Insights

ConocoPhillips Unusual Options Activity For October 31

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

Looking at options history for ConocoPhillips (NYSE:COP) we detected 14 strange trades.

If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 57% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $208,252 and 8, calls, for a total amount of $515,040.

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 $110.0 to $145.0 for ConocoPhillips over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for ConocoPhillips options trades today is 2096.2 with a total volume of 1,783.00.

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 $110.0 to $145.0 over 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 CALL TRADE BULLISH 11/18/22 $125.00 $155.0K 4.1K 211
COP CALL SWEEP BEARISH 11/18/22 $110.00 $108.0K 2.1K 128
COP CALL TRADE BULLISH 11/18/22 $110.00 $76.0K 2.1K 50
COP CALL SWEEP NEUTRAL 11/18/22 $135.00 $50.0K 3.5K 252
COP PUT TRADE NEUTRAL 11/04/22 $130.00 $43.7K 797 373

Where Is ConocoPhillips Standing Right Now?

  • With a volume of 2,361,150, the price of COP is down -0.17% at $126.96.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 3 days.

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.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.