What the Options Market Tells Us About ConocoPhillips
What the Options Market Tells Us About ConocoPhillips
Financial giants have made a conspicuous bullish move on ConocoPhillips. Our analysis of options history for ConocoPhillips (NYSE:COP) revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $281,534, and 3 were calls, valued at $104,866.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $89.0 to $120.0 for ConocoPhillips over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for ConocoPhillips options trades today is 1874.4 with a total volume of 599.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for ConocoPhillips's big money trades within a strike price range of $89.0 to $120.0 over the last 30 days.
ConocoPhillips 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| COP | PUT | SWEEP | NEUTRAL | 11/15/24 | $8.4 | $6.8 | $8.4 | $110.00 | $75.8K | 3.7K | 88 |
| COP | PUT | SWEEP | NEUTRAL | 06/20/25 | $7.7 | $6.05 | $7.7 | $100.00 | $68.8K | 753 | 88 |
| COP | PUT | SWEEP | BULLISH | 11/15/24 | $8.4 | $6.8 | $6.75 | $110.00 | $53.5K | 3.7K | 87 |
| COP | PUT | SWEEP | BULLISH | 06/20/25 | $7.7 | $6.05 | $6.05 | $100.00 | $48.4K | 753 | 87 |
| COP | CALL | SWEEP | BEARISH | 09/20/24 | $2.17 | $2.07 | $2.08 | $104.00 | $41.7K | 2.3K | 141 |
About ConocoPhillips
ConocoPhillips is a US-based independent exploration and production firm. In 2023, it produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2023 were 6.8 billion barrels of oil equivalent.
Where Is ConocoPhillips Standing Right Now?
- With a volume of 1,159,934, the price of COP is up 1.3% at $104.85.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 45 days.
What Analysts Are Saying About ConocoPhillips
In the last month, 4 experts released ratings on this stock with an average target price of $142.25.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for ConocoPhillips, targeting a price of $147.
- An analyst from UBS persists with their Buy rating on ConocoPhillips, maintaining a target price of $153.
- An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $140.
- An analyst from Mizuho persists with their Neutral rating on ConocoPhillips, maintaining a target price of $129.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for ConocoPhillips with Benzinga Pro for real-time alerts.