Occidental Petroleum's Options Frenzy: What You Need to Know

Investors with a lot of money to spend have taken a bullish stance on Occidental Petroleum (NYSE: OXY).

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 these are institutions or just wealthy individuals, we don’t know. But when something this big happens with OXY, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga‘s options scanner spotted 13 uncommon options trades for Occidental Petroleum.

This isn’t normal.

The overall sentiment of these big-money traders is split between 61% bullish and 7%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $1,495,330, and 7 are calls, for a total amount of $687,365.

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 $22.5 and $49.0 for Occidental Petroleum, spanning the last three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Occidental Petroleum’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 Occidental Petroleum’s whale activity within a strike price range from $22.5 to $49.0 in the last 30 days.

Occidental Petroleum 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
OXY	PUT	TRADE	NEUTRAL	12/19/25	$0.82	$0.6	$0.7	$42.50	$700.0K	20.5K	20.0K
OXY	CALL	SWEEP	NEUTRAL	12/19/25	$26.0	$25.7	$25.9	$22.50	$201.4K	340	123
OXY	PUT	SWEEP	BULLISH	12/19/25	$0.85	$0.76	$0.76	$42.50	$190.2K	20.5K	1
OXY	PUT	SWEEP	BULLISH	12/19/25	$0.72	$0.58	$0.72	$42.50	$185.7K	20.5K	10.0K
OXY	PUT	SWEEP	BULLISH	12/19/25	$0.84	$0.74	$0.74	$42.50	$185.2K	20.5K	7.5K

About Occidental Petroleum

Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2023, the company reported net proved reserves of nearly 4 billion barrels of oil equivalent. Net production averaged 1.327 million barrels of oil equivalent per day in 2024 at a ratio of roughly 52% oil and natural gas liquids and 48% natural gas.

Having examined the options trading patterns of Occidental Petroleum, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Occidental Petroleum Standing Right Now?

• Trading volume stands at 7,080,679, with OXY’s price up by 2.06%, positioned at $48.45.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 43 days.

Professional Analyst Ratings for Occidental Petroleum

In the last month, 1 experts released ratings on this stock with an average target price of $46.0.

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* An analyst from UBS has decided to maintain their Neutral rating on Occidental Petroleum, which currently sits at a price target of $46.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Occidental Petroleum, Benzinga Pro gives you real-time options trades alerts.