Whales with a lot of money to spend have taken a noticeably bearish stance on Petrobras Brasileiro.
Looking at options history for Petrobras Brasileiro PBR we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 0% of the investors opened trades with bullish expectations and 92% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $370,830 and 5, calls, for a total amount of $286,780.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $17.0 and $17.0 for Petrobras Brasileiro, spanning the last three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Petrobras Brasileiro's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Petrobras Brasileiro's significant trades, within a strike price range of $17.0 to $17.0, over the past month.
Petrobras Brasileiro Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PBR | CALL | SWEEP | NEUTRAL | 07/19/24 | $0.65 | $0.59 | $0.62 | $17.00 | $170.5K | 206 | 0 |
| PBR | PUT | SWEEP | BEARISH | 01/17/25 | $2.35 | $2.29 | $2.35 | $17.00 | $85.0K | 10 | 0 |
| PBR | PUT | SWEEP | BEARISH | 01/17/25 | $2.35 | $2.28 | $2.35 | $17.00 | $53.3K | 10 | 1.6K |
| PBR | PUT | SWEEP | BEARISH | 01/17/25 | $2.35 | $2.29 | $2.35 | $17.00 | $53.1K | 10 | 1.4K |
| PBR | PUT | SWEEP | BEARISH | 01/17/25 | $2.35 | $2.29 | $2.35 | $17.00 | $38.3K | 10 | 1.1K |
About Petrobras Brasileiro
Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production of oil and gas in Brazilian offshore fields. Production in 2023 was 2.8 million barrels of oil equivalent a day (80% oil production), and reserves stood at 10.9 billion boe (85% oil). At end-2023, Petrobras operated 10 refineries in Brazil with capacity of 1.8 million barrels a day and distributes refined products and natural gas throughout Brazil.
Having examined the options trading patterns of Petrobras Brasileiro, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Petrobras Brasileiro
- With a trading volume of 13,171,129, the price of PBR is up by 0.24%, reaching $16.67.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 14 days from now.
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 Petrobras Brasileiro with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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