Find out what whales are doing with COP

Someone with a lot of money to spend has taken a bullish stance on Conoco Phillips COP.

And retailers should know that.

We noticed this today when the big position appeared on the history of publicly available options we track here at Benzinga.

Whether it’s an institution or just a wealthy individual, we don’t know. But when something this big happens with COP, it often means someone knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga’s options scanner spotted 11 unusual options trades for ConocoPhillips.

It is not normal.

The general sentiment of these big traders is split between 72% bullish and 27% bearish.

Of all the special options we discovered, 9 are put options, totaling $670,306, and 2 are call options, totaling $120,325.

What is the target price?

Given the volume and open interest on these contracts, it appears whales have been targeting a price range of $76.0 to $165.0 for ConocoPhillips over the past 3 months.

Development of volume and open interest

In terms of liquidity and interest, the average open interest for ConocoPhillips options trades today is 442.5 with a total volume of 2,024.00.

In the following chart, we are able to track the development of the volume and open interest of ConocoPhillips large trade call and put options within a strike price range of $76.0 to $165.0 in the last 30 days.

ConocoPhillips options volume and open interest in the last 30 days

The biggest options spotted:









Symbol PUT/CALL Kind of trade Feeling Exp. Date Strike price Total trade price open interest Volume
COP PUT SWEEP BULLISH 07/29/22 $118.00 $177,000 0 59
COP PUT TRADE BULLISH 08/19/22 $110.00 $171,600 1.1K 101
COP PUT TRADE BEARISH 08/19/22 $76.00 $94.5,000 14 900
COP CALL TRADE NEUTRAL 08/26/22 $95.00 $88.1K 42 385
COP PUT SWEEP BULLISH 08/19/22 $165.00 $61,500 0 11









Symbol PUT/CALL Kind of trade Feeling Exp. Date Strike price Total trade price open interest Volume
COP PUT SWEEP BULLISH 07/29/22 $118.00 $177,000 0 59
COP PUT TRADE BULLISH 08/19/22 $110.00 $171,600 1.1K 101
COP PUT TRADE BEARISH 08/19/22 $76.00 $94.5,000 14 900
COP CALL TRADE NEUTRAL 08/26/22 $95.00 $88.1K 42 385
COP PUT SWEEP BULLISH 08/19/22 $165.00 $61,500 0 11

Where is ConocoPhillips right now?

  • With a volume of 8,011,565, COP price is down -2.09% to $88.81.
  • RSI indicators suggest that the underlying stock may be close to overbought.
  • The next results should be published in 14 days.

What the experts say about ConocoPhillips:

  • MKM Partners has downgraded its stock to Buy with a price target of $110
  • Piper Sandler has decided to maintain her overweight rating on ConocoPhillips, which currently sits at a price target of $123.
  • B of A Securities upgraded its stock to buy with a price target of $134
  • Mizuho has decided to maintain its buy rating on ConocoPhillips, which currently sits at a price target of $148.
  • Morgan Stanley has decided to maintain its overweight rating on ConocoPhillips, which currently sits at a price target of $117.

Options are a riskier asset than just trading stocks, but they have a higher profit potential. Serious options traders manage this risk by educating themselves daily, increasing and decreasing trades, following more than one indicator, and following the markets closely.

If you want to stay up to date on the latest options trades for ConocoPhillips, Benzinga Pro gives you real-time options trade alerts.

About Mildred B.

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