---
title: "Trending | OXY Surges 5% on Thursday, Some Call options Soar 493%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278982479.md"
description: "On March 12, Eastern Time, Occidental Petroleum options saw a total of 257728 contracts traded, with calls accounting for 85% and puts making up 14%."
datetime: "2026-03-13T04:17:28.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278982479.md)
  - [en](https://longbridge.com/en/news/278982479.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278982479.md)
---

# Trending | OXY Surges 5% on Thursday, Some Call options Soar 493%

On March 12, Eastern Time, Occidental Petroleum options saw a total of 257728 contracts traded, with calls accounting for 85% and puts making up 14%.

Occidental Petroleum has 932732 contracts outstanding, with calls accounting for 65% and puts making up 34%.

The top volume gainer was the 60 dollars Call option expiring on March 13, 2026, with 13447 contracts traded.

On the news front, Based on recent key news:

1\. March 13, Wells Fargo upgraded Occidental Petroleum to Overweight from Underweight, raising the price target from $47 to $69. This double upgrade, along with Piper Sandler's upgrade to Overweight with a $66 target, boosted investor confidence, leading to a 5.9% rise in OXY shares. Source: Reuters

2\. March 12, Piper Sandler increased its mid-term oil price forecast, citing tighter global oil supply and potential disruptions due to the Iran conflict. This raised Occidental's target price from $54 to $66, supporting the stock's upward movement. Source: Bloomberg

3\. March 13, Occidental's rally was also supported by rising oil prices, as geopolitical tensions involving Iran and the U.S. suggested potential supply constraints, further enhancing the stock's appeal. Source: CNBCOil sector sees increased volatility.

Please note: The chart below does not include options expiring within five days.

![image](https://assets.lbctrl.com/h5hub/optrank/images/2026-03-13/ST_US_OXY_en.png)

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- [OXY.US](https://longbridge.com/en/quote/OXY.US.md)

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