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 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, 4 are puts, for a total amount of $239,610 and 10, calls, for a total amount of $462,239.
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 $80.0 to $105.0 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 $80.0 to $105.0 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 | CALL | SWEEP | BEARISH | 06/17/22 | $82.50 | $86.1K | 333 | 118 |
| PSX | PUT | SWEEP | BEARISH | 01/20/23 | $90.00 | $82.1K | 500 | 148 |
| PSX | CALL | SWEEP | BULLISH | 05/20/22 | $82.50 | $81.6K | 641 | 124 |
| PSX | PUT | TRADE | BEARISH | 08/19/22 | $97.50 | $66.0K | 8 | 68 |
| PSX | CALL | TRADE | BULLISH | 08/19/22 | $85.00 | $56.2K | 404 | 50 |
Where Is Phillips 66 Standing Right Now?
- With a volume of 4,124,893, the price of PSX is down -2.37% at $93.89.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 89 days.
What The Experts Say On Phillips 66:
- RBC Capital has decided to maintain their Outperform rating on Phillips 66, which currently sits at a price target of $106.
- Wells Fargo has decided to maintain their Overweight rating on Phillips 66, which currently sits at a price target of $103.
- Piper Sandler has decided to maintain their Overweight rating on Phillips 66, which currently sits at a price target of $119.
- Raymond James has decided to maintain their Outperform rating on Phillips 66, which currently sits at a price target of $107.
- Wells Fargo has decided to maintain their Overweight rating on Phillips 66, which currently sits at a price target of $114.
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.
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