Investors with significant funds have taken a bearish position in Phillips 66 (NYSE:PSX), a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in PSX usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for Phillips 66. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 37% being bullish and 62% bearish. Of all the options we discovered, 7 are puts, valued at...
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