Whales Bullish on Schlumberger: A Closer Look at Options Activity
Whales with a significant amount of money to spend have recently taken a noticeably bullish stance on Schlumberger (SLB). When analyzing the options history for SLB, 11 trades were detected. Out of these trades, 54% of investors opened positions with bullish expectations, while 45% took a bearish stance.
A closer look at the specifics of these trades reveals that there were 7 puts, totaling $580,568, and 4 calls, totaling $206,500. Based on the volume and open interest of these contracts, it appears that whales have been targeting a price range of $40.0 to $55.0 for Schlumberger over the last 3 months.
In terms of liquidity and interest, the mean open interest for Schlumberger options trades today is 1275.33, with a total volume of 5,189.00. This indicates a notable level of activity and suggests that there is significant interest in trading options for Schlumberger.
To visualize the development of volume and open interest for call and put options within a strike price range of $40.0 to $55.0 over the last 30 days, refer to the accompanying chart.
Noteworthy options activity for Schlumberger includes several trades with varying sentiments and expiration dates. One example is a put option with a strike price of $47.50, expiring on 06/21/24, and a total trade price of $209.1K. This trade had a neutral sentiment and an open interest of 3.5K with a volume of 678.
Schlumberger, formerly known as SLB, is the largest oilfield service firm in the world. With expertise in reservoir performance, well construction, production enhancement, and digital solutions, the company has earned a reputation as an industry innovator. It maintains a dominant share in numerous end markets.
As of the latest data, Schlumberger’s stock price is up 0.02% at $47.9, with a volume of 6,955,205. RSI indicators suggest that the stock may be approaching oversold territory. The next earnings release is expected in 1 day.
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. To stay updated on the latest options trades for Schlumberger, consider using a platform like Benzinga Pro, which provides real-time alerts.
In conclusion, the recent bullish stance of whales on Schlumberger is evident through options activity. With a targeted price range and notable interest in trading options, it will be interesting to see how the market develops for this industry-leading company.
