A whale with a lot of money to spend has taken a noticeably bearish stance on Phillips 66.
Looking at options history for Phillips 66 (NYSE:PSX) we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 27% of the investors opened trades with bullish expectations and 72% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $400,532 and 4, calls, for a total amount of $161,580.
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 $45.0 to $110.0 for Phillips 66 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 Phillips 66'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 Phillips 66's whale trades within a strike price range from $45.0 to $110.0 in the last 30 days.
Phillips 66 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 |
|---|---|---|---|---|---|---|---|---|
| PSX | PUT | TRADE | BULLISH | 01/17/25 | $100.00 | $96.8K | 0 | 60 |
| PSX | PUT | SWEEP | BEARISH | 01/19/24 | $100.00 | $74.8K | 191 | 102 |
| PSX | PUT | TRADE | BEARISH | 01/17/25 | $100.00 | $67.7K | 0 | 88 |
| PSX | PUT | TRADE | BEARISH | 06/16/23 | $85.00 | $57.8K | 23 | 59 |
| PSX | CALL | TRADE | BULLISH | 10/21/22 | $45.00 | $46.2K | 3 | 0 |
Where Is Phillips 66 Standing Right Now?
- With a volume of 1,838,933, the price of PSX is up 2.29% at $92.42.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 27 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 Phillips 66, Benzinga Pro gives you real-time options trades alerts.
