Occidental Petroleum is a big company that looks for oil and gas around the world. They have lots of these natural resources stored away, which they use to make money by selling them. Sometimes people who own parts of this company want to buy or sell those parts, and they do this using something called options. Options are like bets on how much the company's value will change in the future. This article talks about how many of these bets were made recently and what prices people think the company is worth at. Read from source...

1. The article does not provide any clear or specific information about the options market dynamics of Occidental Petroleum. It is unclear what the author means by "a closer look" and how they intend to analyze the topic.
2. The article contains several factual errors, such as stating that Occidental Petroleum reported net proved reserves of 4 billion barrels at the end of 2023, when in reality it was at the end of 2021 according to the company's annual report. This mistake undermines the credibility of the author and the source.
3. The article uses vague and ambiguous language, such as "whale activity" and "large options trades observed". These terms do not provide any meaningful or useful information for the reader, and they may be misleading or confusing.

- OXY has a strong balance sheet with $8.1 billion in cash and no long-term debt as of Q4 2023, which gives it flexibility to manage its capital structure and fund its operations.
- The company's production mix is heavily skewed toward oil and natural gas liquids (50%), which makes it more exposed to fluctuations in global oil prices than a typical E&P company. This also creates potential upside if oil prices continue to rise, as well as downside risk if they decline significantly.
- Occidental Petroleum has been focusing on improving its operational efficiency and reducing its cost structure through various initiatives, such as divesting non-core assets, optimizing its rig count, and implementing digital technologies across its operations. These efforts have resulted in improved margins and free cash flow generation in recent years.
- The company has a solid dividend history, with a current yield of 3.1% based on its closing price of $64.87 as of May 20, 2020. However, the dividend payout ratio is high at around 95%, which may limit its ability to increase the payout in the future or maintain it during periods of weak cash flow.
- Occidental Petroleum's valuation appears attractive compared to its peers and the broader market, with a price-to-earnings (P/E) ratio of 9.4x and a price-to-free cash flow (P/CF) ratio of 5.8x as of May 20, 2020. The company's enterprise value (EV) to EBITDA (earnings before interest, taxes, depreciation, and amortization) multiple is also low at 3.6x, indicating that the market expects modest growth in its earnings and cash flow in the coming years.
- The main risks facing Occidental Petroleum are the volatility of global oil prices, which can significantly impact its revenues, cash flow, and profitability; the competitive dynamics within the E&P sector, which may limit its ability to grow its production or market share; and the environmental, social, and governance (ESG) factors related to its operations, such as climate change, water management, and community relations.