SPX3,818.83-2.72 -0.07%
DIA310.05+0.71 0.23%
IXIC11,177.89-3.65 -0.03%

Looking At Diamondback Energy's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on Diamondback Energy (NASDAQ:FANG). And retail traders should know. We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Benzinga · 06/10/2022 16:45

Someone with a lot of money to spend has taken a bearish stance on Diamondback Energy (NASDAQ:FANG).

And retail traders should know.

We noticed this today when the big position 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 FANG, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 15 options trades for Diamondback Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $120,000, and 14, calls, for a total amount of $769,805..

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 $62.65 to $165.0 for Diamondback Energy over the last 3 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 Diamondback Energy'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 Diamondback Energy's whale trades within a strike price range from $62.65 to $165.0 in the last 30 days.

Diamondback Energy Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
FANG CALL SWEEP BEARISH 01/20/23 $97.65 $150.0K 571 0
FANG PUT TRADE BEARISH 09/16/22 $130.00 $120.0K 11 0
FANG CALL TRADE BULLISH 01/19/24 $62.65 $92.0K 25 10
FANG CALL TRADE BEARISH 08/19/22 $150.00 $67.2K 26 44
FANG CALL TRADE BULLISH 01/20/23 $157.65 $57.4K 4.1K 34

Where Is Diamondback Energy Standing Right Now?

  • With a volume of 1,628,501, the price of FANG is down -0.67% at $156.78.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 52 days.

What The Experts Say On Diamondback Energy:

  • Piper Sandler has decided to maintain their Overweight rating on Diamondback Energy, which currently sits at a price target of $196.
  • Wells Fargo has decided to maintain their Overweight rating on Diamondback Energy, which currently sits at a price target of $200.
  • Barclays upgraded its action to Overweight with a price target of $160
  • Morgan Stanley has decided to maintain their Overweight rating on Diamondback Energy, which currently sits at a price target of $178.

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 Diamondback Energy, Benzinga Pro gives you real-time options trades alerts.