This Is What Whales Are Betting On Shell

A whale with a lot of money to spend has taken a noticeably bullish stance on Shell.

Looking at options history for Shell (NYSE:SHEL) we detected 10 strange trades.

If we consider the specifics of each trade, it is accurate to state that 80% of the investors opened trades with bullish expectations and 20% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $632,750 and 2, calls, for a total amount of $78,300.

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 $62.5 for Shell 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 Shell'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 Shell's whale trades within a strike price range from $47.5 to $62.5 in the last 30 days.

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Shell Option Volume And Open Interest Over Last 30 Days

© Provided by Benzinga Options Call Chart

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
SHEL	PUT	TRADE	BEARISH	10/20/23	$57.50	$162.4K	437	280
SHEL	PUT	SWEEP	BULLISH	01/19/24	$62.50	$101.6K	226	107
SHEL	PUT	SWEEP	BULLISH	04/21/23	$55.00	$98.2K	3.2K	655
SHEL	PUT	SWEEP	BULLISH	10/20/23	$47.50	$86.0K	467	0
SHEL	PUT	SWEEP	BULLISH	04/21/23	$55.00	$70.4K	3.2K	1.2K

Where Is Shell Standing Right Now?

With a volume of 3,678,978, the price of SHEL is up 2.6% at $55.99. RSI indicators hint that the underlying stock may be approaching oversold. Next earnings are expected to be released in 38 days.

What The Experts Say On Shell:

Goldman Sachs upgraded its action to Buy with a price target of $85

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

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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This article This Is What Whales Are Betting On Shell originally appeared on Benzinga.com

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