This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels.
Below are some instances of options activity happening in the Energy sector:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SLB | CALL | SWEEP | BEARISH | 01/20/23 | $22.50 | $33.6K | 19.3K | 7.1K |
| COP | CALL | SWEEP | BULLISH | 01/20/23 | $60.00 | $1.0 million | 5.2K | 2.5K |
| XOM | CALL | SWEEP | BULLISH | 08/19/22 | $110.00 | $172.0K | 2.8K | 1.1K |
| PXD | CALL | TRADE | BULLISH | 07/15/22 | $320.00 | $27.9K | 26 | 847 |
| OVV | CALL | TRADE | BEARISH | 10/21/22 | $65.00 | $50.0K | 1.9K | 134 |
| PBT | CALL | SWEEP | BEARISH | 06/17/22 | $15.00 | $30.0K | 2.4K | 101 |
| DVN | CALL | TRADE | BEARISH | 10/21/22 | $60.00 | $88.2K | 1.2K | 84 |
| MRO | CALL | SWEEP | BEARISH | 01/19/24 | $25.00 | $78.0K | 1.6K | 75 |
| CVX | CALL | SWEEP | BULLISH | 06/16/23 | $210.00 | $38.3K | 1.0K | 38 |
| RRC | PUT | SWEEP | BULLISH | 01/20/23 | $45.00 | $31.5K | 75 | 25 |
Explanation
These itemized elaborations have been created using the accompanying table.
• Regarding SLB (NYSE:SLB), we observe a call option sweep with bearish sentiment. It expires in 238 day(s) on January 20, 2023. Parties traded 13 contract(s) at a $22.50 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $33.6K, with a price of $2590.0 per contract. There were 19367 open contracts at this strike prior to today, and today 7179 contract(s) were bought and sold.
• Regarding COP (NYSE:COP), we observe a call option sweep with bullish sentiment. It expires in 238 day(s) on January 20, 2023. Parties traded 197 contract(s) at a $60.00 strike. This particular call needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $1.0 million, with a price of $5405.0 per contract. There were 5229 open contracts at this strike prior to today, and today 2518 contract(s) were bought and sold.
• Regarding XOM (NYSE:XOM), we observe a call option sweep with bullish sentiment. It expires in 84 day(s) on August 19, 2022. Parties traded 1000 contract(s) at a $110.00 strike. This particular call needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $172.0K, with a price of $172.0 per contract. There were 2860 open contracts at this strike prior to today, and today 1137 contract(s) were bought and sold.
• Regarding PXD (NYSE:PXD), we observe a call option trade with bullish sentiment. It expires in 49 day(s) on July 15, 2022. Parties traded 90 contract(s) at a $320.00 strike. The total cost received by the writing party (or parties) was $27.9K, with a price of $310.0 per contract. There were 26 open contracts at this strike prior to today, and today 847 contract(s) were bought and sold.
• For OVV (NYSE:OVV), we notice a call option trade that happens to be bearish, expiring in 147 day(s) on October 21, 2022. This event was a transfer of 100 contract(s) at a $65.00 strike. The total cost received by the writing party (or parties) was $50.0K, with a price of $500.0 per contract. There were 1970 open contracts at this strike prior to today, and today 134 contract(s) were bought and sold.
• For PBT (NYSE:PBT), we notice a call option sweep that happens to be bearish, expiring in 21 day(s) on June 17, 2022. This event was a transfer of 100 contract(s) at a $15.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $30.0K, with a price of $300.0 per contract. There were 2458 open contracts at this strike prior to today, and today 101 contract(s) were bought and sold.
• Regarding DVN (NYSE:DVN), we observe a call option trade with bearish sentiment. It expires in 147 day(s) on October 21, 2022. Parties traded 49 contract(s) at a $60.00 strike. The total cost received by the writing party (or parties) was $88.2K, with a price of $1800.0 per contract. There were 1200 open contracts at this strike prior to today, and today 84 contract(s) were bought and sold.
• For MRO (NYSE:MRO), we notice a call option sweep that happens to be bearish, expiring in 602 day(s) on January 19, 2024. This event was a transfer of 70 contract(s) at a $25.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $78.0K, with a price of $1115.0 per contract. There were 1643 open contracts at this strike prior to today, and today 75 contract(s) were bought and sold.
• Regarding CVX (NYSE:CVX), we observe a call option sweep with bullish sentiment. It expires in 385 day(s) on June 16, 2023. Parties traded 36 contract(s) at a $210.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $38.3K, with a price of $1065.0 per contract. There were 1007 open contracts at this strike prior to today, and today 38 contract(s) were bought and sold.
• Regarding RRC (NYSE:RRC), we observe a put option sweep with bullish sentiment. It expires in 238 day(s) on January 20, 2023. Parties traded 25 contract(s) at a $45.00 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $31.5K, with a price of $1260.0 per contract. There were 75 open contracts at this strike prior to today, and today 25 contract(s) were bought and sold.
Options Alert Terminology
- Call Contracts: The right to buy shares as indicated in the contract.
- Put Contracts: The right to sell shares as indicated in the contract.
- Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it.
- Premium/Option Price: The price of the contract.
For more information, visit our Guide to Understanding Options Alerts or read more about unusual options activity.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
