Baker Hughes's Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bearish stance on Baker Hughes (NASDAQ:BKR).

And retail traders should know.

We noticed this today when the positions 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 BKR, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 10 options trades for Baker Hughes.

This isn't normal.

The overall sentiment of these big-money traders is split between 20% bullish and 50%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $56,260, and 9, calls, for a total amount of $344,064.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $47.0 for Baker Hughes during the past quarter.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Baker Hughes stands at 140.5, with a total volume reaching 21,036.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Baker Hughes, situated within the strike price corridor from $40.0 to $47.0, throughout the last 30 days.

Baker Hughes Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

About Baker Hughes

Baker Hughes Company is an energy technology company with a portfolio of technologies and services that span the energy and industrial value chain. Baker Hughes is an energy technology company with two main segments: Oilfield Services and Equipment (OFSE) and Industrial and Energy Technology (IET). OFSE offers products and services for oilfield operations throughout a well's lifecycle. IET provides solutions for mechanical-drive, compression, and power-generation applications across energy industries, including oil, gas, LNG, refining, and petrochemicals. It also focuses on lower-carbon solutions for broader energy and industrial sectors. Key revenue is generated from non USA regions.

Present Market Standing of Baker Hughes

• With a trading volume of 2,331,461, the price of BKR is down by -0.31%, reaching $44.45.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 50 days from now.

Expert Opinions on Baker Hughes

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $54.4.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Baker Hughes with a target price of $54. * An analyst from JP Morgan has decided to maintain their Overweight rating on Baker Hughes, which currently sits at a price target of $52. * An analyst from Wells Fargo has decided to maintain their Overweight rating on Baker Hughes, which currently sits at a price target of $54. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Baker Hughes, targeting a price of $55. * An analyst from Benchmark downgraded its action to Buy with a price target of $57.

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 Baker Hughes with Benzinga Pro for real-time alerts.