Financial giants have made a conspicuous bearish move on Chevron. Our analysis of options history for Chevron CVX revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $157,715, and 5 were calls, valued at $192,642.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $155.0 for Chevron over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Chevron's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Chevron's whale trades within a strike price range from $80.0 to $155.0 in the last 30 days.
Chevron Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | PUT | SWEEP | BEARISH | 11/15/24 | $4.95 | $4.9 | $4.95 | $145.00 | $99.0K | 1.3K | 328 |
| CVX | CALL | SWEEP | BULLISH | 10/18/24 | $3.2 | $3.15 | $3.2 | $145.00 | $56.0K | 2.5K | 109 |
| CVX | CALL | TRADE | BEARISH | 09/20/24 | $0.89 | $0.72 | $0.75 | $144.00 | $44.9K | 893 | 1.5K |
| CVX | CALL | TRADE | BULLISH | 12/19/25 | $66.35 | $63.15 | $65.28 | $80.00 | $32.6K | 7 | 5 |
| CVX | PUT | TRADE | BULLISH | 11/15/24 | $4.95 | $4.9 | $4.9 | $145.00 | $32.3K | 1.3K | 118 |
About Chevron
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2023 stood at 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.
After a thorough review of the options trading surrounding Chevron, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Chevron
- With a volume of 5,946,837, the price of CVX is up 0.3% at $145.42.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 35 days.
Expert Opinions on Chevron
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $189.0.
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 Mizuho continues to hold a Outperform rating for Chevron, targeting a price of $189. * An analyst from UBS has decided to maintain their Buy rating on Chevron, which currently sits at a price target of $189.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Chevron, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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