A whale with a lot of money to spend has taken a noticeably bullish stance on Marathon Petroleum.
Looking at options history for Marathon Petroleum (NYSE:MPC) we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 72% of the investors opened trades with bullish expectations and 27% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $204,730 and 7, calls, for a total amount of $362,640.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $47.5 to $75.0 for Marathon Petroleum over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Marathon Petroleum options trades today is 4922.2 with a total volume of 1,011.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Marathon Petroleum's big money trades within a strike price range of $47.5 to $75.0 over the last 30 days.
Marathon Petroleum Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MPC | CALL | SWEEP | NEUTRAL | 04/14/22 | $62.50 | $96.3K | 3.1K | 107 |
| MPC | PUT | SWEEP | BULLISH | 07/15/22 | $67.50 | $83.1K | 56 | 132 |
| MPC | CALL | SWEEP | BULLISH | 02/18/22 | $72.50 | $69.1K | 2.0K | 450 |
| MPC | PUT | SWEEP | BULLISH | 07/15/22 | $70.00 | $58.8K | 652 | 0 |
| MPC | CALL | SWEEP | BULLISH | 04/14/22 | $60.00 | $57.3K | 1.2K | 54 |
Where Is Marathon Petroleum Standing Right Now?
- With a volume of 4,791,967, the price of MPC is up 0.82% at $70.97.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 8 days.
What The Experts Say On Marathon Petroleum:
- Barclays has decided to maintain their Overweight rating on Marathon Petroleum, which currently sits at a price target of $80.
- Cowen & Co. has decided to maintain their Outperform rating on Marathon Petroleum, which currently sits at a price target of $75.
- Piper Sandler downgraded its action to Neutral with a price target of $76
- Raymond James has decided to maintain their Strong Buy rating on Marathon Petroleum, which currently sits at a price target of $87.
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.
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