Deep-pocketed investors have adopted a bullish approach towards Shell , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SHEL usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Shell. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 55% leaning bullish and 44% bearish. Among these notable options, 4 are puts, totaling $245,090, and 5 are calls, amounting to $675,266.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $80.0 for Shell over the last 3 months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Shell's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Shell's significant trades, within a strike price range of $70.0 to $80.0, over the past month.

Shell 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Shell

Shell is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 1.5 million barrels of liquids and 7.3 billion cubic feet of natural gas per day. At end-2023, reserves stood at 9.6 billion barrels of oil equivalent, 49% of which, consisted of liquids. Its production and reserves are in Europe, Asia, Oceania, Africa, and North and South America. The company operates refineries with capacity of 1.6 mmb/d located in the Americas, Asia, Africa, and Europe and sells about 12 million tons per year of chemicals. Its largest chemical plants, often integrated with its local refineries, are in Central Europe, China, Singapore, and North America.

Following our analysis of the options activities associated with Shell, we pivot to a closer look at the company's own performance.

Current Position of Shell

• Trading volume stands at 4,275,657, with SHEL's price up by 0.35%, positioned at $72.98.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 32 days.

Professional Analyst Ratings for Shell

In the last month, 2 experts released ratings on this stock with an average target price of $84.5.

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. * Maintaining their stance, an analyst from TD Securities continues to hold a Buy rating for Shell, targeting a price of $82. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Shell, targeting a price of $87.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Shell options trades with real-time alerts from Benzinga Pro.