Whales with a lot of money to spend have taken a noticeably bearish stance on Chevron.
Looking at options history for Chevron CVX we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $317,187 and 4, calls, for a total amount of $150,406.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $125.0 to $170.0 for Chevron during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Chevron stands at 2013.56, with a total volume reaching 4,083.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Chevron, situated within the strike price corridor from $125.0 to $170.0, throughout the last 30 days.
Chevron Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVX | PUT | TRADE | BULLISH | 07/19/24 | $140.00 | $109.5K | 663 | 433 |
| CVX | CALL | TRADE | BEARISH | 09/20/24 | $130.00 | $64.5K | 153 | 25 |
| CVX | PUT | TRADE | BULLISH | 01/17/25 | $160.00 | $40.9K | 2.5K | 25 |
| CVX | PUT | TRADE | BEARISH | 01/17/25 | $145.00 | $37.4K | 3.4K | 46 |
| CVX | PUT | SWEEP | BEARISH | 02/09/24 | $152.50 | $34.6K | 886 | 1.3K |
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 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 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 U.S. and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2022 stood at 11.2 billion barrels of oil equivalent, including 6.1 billion barrels of liquids and 30.9 trillion cubic feet of natural gas.
In light of the recent options history for Chevron, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Chevron
- Currently trading with a volume of 5,308,348, the CVX's price is up by 0.04%, now at $152.19.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 78 days.
Professional Analyst Ratings for Chevron
4 market experts have recently issued ratings for this stock, with a consensus target price of $167.5.
- An analyst from Scotiabank has revised its rating downward to Sector Perform, adjusting the price target to $170.
- An analyst from TD Cowen downgraded its action to Market Perform with a price target of $150.
- In a cautious move, an analyst from DZ Bank downgraded its rating to Hold, setting a price target of $160.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Chevron, targeting a price of $190.
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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