Investors with a lot of money to spend have taken a bearish stance on Petrobras Brasileiro PBR.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with PBR, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Petrobras Brasileiro.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 55%, bearish.
Out of all of the options we uncovered, 8 are puts, for a total amount of $672,438, and there was 1 call, for a total amount of $29,000.
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 $13.0 and $15.0 for Petrobras Brasileiro, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Petrobras Brasileiro's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Petrobras Brasileiro's whale trades within a strike price range from $13.0 to $15.0 in the last 30 days.
Petrobras Brasileiro Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PBR | PUT | TRADE | BULLISH | 03/22/24 | $14.50 | $220.0K | 18.1K | 29 |
| PBR | PUT | TRADE | NEUTRAL | 03/22/24 | $14.00 | $180.0K | 42.0K | 9 |
| PBR | PUT | TRADE | BEARISH | 05/17/24 | $13.00 | $99.2K | 2.4K | 0 |
| PBR | PUT | TRADE | BEARISH | 04/19/24 | $14.00 | $48.2K | 50.7K | 0 |
| PBR | PUT | SWEEP | BEARISH | 03/28/24 | $15.00 | $38.6K | 1.4K | 0 |
About Petrobras Brasileiro
Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production for oil and gas in Brazilian offshore fields. Production in 2022 was 2.7 million barrels of oil equivalent a day (80% oil production), and reserves stood at 10.5 billion boe (85% oil). At year-end 2022, Petrobras operated 11 refineries in Brazil with capacity of 1.9 million barrels a day and distributes refined products and natural gas throughout Brazil.
In light of the recent options history for Petrobras Brasileiro, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Petrobras Brasileiro
- Trading volume stands at 4,581,689, with PBR's price down by -0.34%, positioned at $14.48.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 51 days.
What The Experts Say On Petrobras Brasileiro
In the last month, 2 experts released ratings on this stock with an average target price of $16.8.
- An analyst from Goldman Sachs persists with their Buy rating on Petrobras Brasileiro, maintaining a target price of $17.
- An analyst from B of A Securities has revised its rating downward to Neutral, adjusting the price target to $16.
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 |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
