Petrobras, Nike and Goldman Sachs: Oil Prices Surge, Options Heat Up

Petrobras, Nike and Goldman Sachs see a surge in option volume as oil prices climb, capturing investors’ attention.

Oil Prices: A Leap Past $90 and Rising Consumer Costs

■WTI closed at $86.83 while Brent topped $94.07.

■U.S. consumers are paying over $4 per gallon for the first time since mid‑June.

■The S&P 500 has slipped nearly 1% over the past five trading days due to the oil wave.

Options Arena: Record Volume in 120+ Day Expirations

■Despite a lower 90‑day average volume of 50.13 million, 4% of single‑leg trades were for 120+ day DTE options.

■A total of 118 “unusually active” options traded with 120+ DTEs; the highest vol/OI ratio was SpaceX (SPCX) – 95.27.

■Nebius Group (NBIS) and Navitas Semiconductor (NVTS) led with vol/OI ratios of 204.01 and 109.27 respectively.

Petrobras Strategy: Leveraged Bull Call Spread

■PBR options offered a $22 call with a $30 call sold, netting a $0.76 debit – an 11% cost reduction.

■The large trade at 9:41 ET accounted for roughly 95% of that day’s volume.

■The net debit equated to 3.3% of the share price.

Other Key Plays: SpaceX, Nebius, Navitas

■SpaceX (SPCX) March 19/2027 $115 put, vol/OI 95.27, ranked third.

■Nebius Group (NBIS) and Navitas Semiconductor (NVTS) highlighted high vol/OI ratios.

■On Holdings (ONON) and GM (GM) puts also featured among the 150 DTE active options.

S&P 500 and the Energy Ripple

■Rising oil prices are reshaping CPI expectations and market sentiment.

■Excluding AI investment, signs of a weakening U.S. economy persist.

In this volatile environment, the uptick in long‑term options reflects a market response to energy price uncertainty. The Petrobras call‑spread strategy can act as a hedge, while the activity in SpaceX and Nebius signals a rebalancing of risk across sectors.