Financial giants have made a conspicuous bearish move on Chevron. Our analysis of options history for Chevron CVX revealed 21 unusual trades.
Delving into the details, we found 42% of traders were bullish, while 57% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $175,195, and 17 were calls, valued at $1,335,016.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $130.0 to $170.0 for Chevron during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Chevron options trades today is 4146.85 with a total volume of 24,720.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Chevron's big money trades within a strike price range of $130.0 to $170.0 over the last 30 days.
Chevron 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVX | CALL | TRADE | BEARISH | 04/19/24 | $170.00 | $336.5K | 2.4K | 13.8K |
| CVX | CALL | TRADE | BULLISH | 06/21/24 | $145.00 | $132.7K | 12.6K | 93 |
| CVX | CALL | SWEEP | BEARISH | 07/19/24 | $155.00 | $120.0K | 519 | 391 |
| CVX | CALL | SWEEP | BULLISH | 04/19/24 | $160.00 | $109.4K | 7.9K | 876 |
| CVX | CALL | SWEEP | BEARISH | 04/19/24 | $170.00 | $101.6K | 2.4K | 2.7K |
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.
Current Position of Chevron
- With a trading volume of 8,818,363, the price of CVX is down by -0.6%, reaching $153.53.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 59 days from now.
What The Experts Say On Chevron
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $175.0.
- An analyst from RBC Capital persists with their Outperform rating on Chevron, maintaining a target price of $190.
- Reflecting concerns, an analyst from DZ Bank lowers its rating to Hold with a new price target of $160.
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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