Unusual Options Activity in Occidental Petroleum Amid Oil Price Rally

Key Facts

1Occidental Petroleum (OXY) saw significant unusual options activity, particularly in bullish call options, suggesting investor confidence.

Amid a broader recovery in the global energy sector, Occidental Petroleum (OXY) experienced significant unusual options activity characterized by a surge in bullish call options. According to reports, this activity reflects heightened investor optimism regarding the stock's upward trajectory, with trading volumes significantly exceeding open interest levels. This momentum comes as traders look to capitalize on rising crude oil prices which have bolstered the appeal of exploration and production companies.

This surge in activity occurs within a supportive context for the company, as search data indicates that Warren Buffett's Berkshire Hathaway continued to increase its stake in OXY, surpassing 28% earlier this year, providing strong institutional backing. In comparison to peers, companies like Exxon Mobil and Chevron have seen similar sentiment shifts as Brent crude prices stabilized at key levels, with Exxon reporting quarterly earnings that beat analyst expectations per recent financial filings.

Regarding price action, OXY closed at $52.30 (close July 09, 2026), having reached a daily high of $52.94. Traders are closely watching the $52.00 support level to maintain the current bullish trend. Looking at the economic calendar, market participants are still processing the outcomes of the OPEC meeting held on July 05, which remains a primary catalyst for production outlooks and energy stock volatility.