BP Unusual Options Activity For January 06

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A whale with a lot of money to spend has taken a noticeably bullish stance on BP.

Looking at options history for BP BP we detected 11 strange trades.

If we consider the specifics of each trade, it is accurate to state that 63% of the investors opened trades with bullish expectations and 36% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $315,497 and 6, calls, for a total amount of $1,768,600.

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 $20.0 to $43.0 for BP 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 BP’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 BP’s whale activity within a strike price range from $20.0 to $43.0 in the last 30 days.

BP 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
BP CALL SWEEP BEARISH 01/20/23 $20.00 $578.0K 1.8K 400
BP CALL TRADE BULLISH 01/20/23 $25.00 $380.0K 5.2K 407
BP CALL TRADE BULLISH 01/19/24 $22.00 $258.0K 4.2K 356
BP CALL TRADE NEUTRAL 01/20/23 $22.00 $249.0K 2.7K 404
BP CALL SWEEP BEARISH 01/20/23 $22.00 $249.0K 2.7K 204

Where Is BP Standing Right Now?

  • With a volume of 2,580,253, the price of BP is up 1.78% at $34.51.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 32 days.

What The Experts Say On BP:

  • Piper Sandler has decided to maintain their Overweight rating on BP, which currently sits at a price target of $39.

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