BP p.l.c. (NYSE:BP) – Looking At BP’s Recent Whale Trades

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

Looking at options history for BP (NYSE:BP) we detected 66 strange trades.

If we consider the specifics of each trade, it is accurate to state that 72% of the investors opened trades with bullish expectations and 27% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $289,620 and 63, calls, for a total amount of $6,056,737.

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 $18.0 to $37.0 for BP 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 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 trades within a strike price range from $18.0 to $37.0 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 BULLISH 01/20/23 $20.00 $794.9K 8.3K 1.4K
BP CALL SWEEP BULLISH 01/20/23 $30.00 $378.2K 38.1K 7.1K
BP CALL TRADE BULLISH 01/20/23 $20.00 $285.4K 8.3K 612
BP CALL SWEEP BULLISH 01/20/23 $30.00 $267.5K 38.1K 8.5K
BP CALL SWEEP BEARISH 01/21/22 $18.00 $263.0K 3.7K 331

Where Is BP Standing Right Now?

  • With a volume of 13,306,909, the price of BP is up 2.03% at $31.16.
  • RSI indicators hint that the underlying stock may be 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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

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