Decoding Chevron's Options Activity: What's the Big Picture?

Financial giants have made a conspicuous bullish move on Chevron. Our analysis of options history for Chevron CVX revealed 10 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $83,973, and 7 were calls, valued at $659,278.

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 $150.0 to $162.5 for Chevron over the last 3 months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Chevron stands at 2164.33, with a total volume reaching 4,544.00. 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 $150.0 to $162.5, throughout the last 30 days.

Chevron Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

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.

Chevron's Current Market Status

• With a trading volume of 2,429,209, the price of CVX is up by 0.09%, reaching $156.61.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 31 days from now.

What The Experts Say On Chevron

2 market experts have recently issued ratings for this stock, with a consensus target price of $190.0.

• Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Chevron, targeting a price of $180.
• Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on Chevron with a target price of $200.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Chevron options trades with real-time alerts from Benzinga Pro.