Unusual Options Activity: Traders bet BP p.l.c. (BP) Stock Will Hold Recent Gains
Traders are betting Monday that BP p.l.c. (BP) will hold its recent gains. After breaking through resistance at $40.50 in January the stock has climbed to $44.21. So far today, 5,352 contracts of the May 40 call have changed hands, against open interest of just 104 contracts.
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About BP p.l.c.
BP PLC is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2017, it produced 2.3 million barrels of liquids and 7.7 billion cubic feet of natural gas per day, including volumes from its 20% ownership interest in Rosneft. At year-end 2017, reserves stood at 18.4 billion barrels of oil equivalent, 58% of which are liquids. The company operates refineries with a capacity of 1.9 million barrels of oil per day.