Looking At Chevron's Recent Unusual Options Activity

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 25% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $157,241, and 5 were calls, valued at $135,676.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $157.5 to $172.5 for Chevron over the last 3 months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Chevron's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Chevron's substantial trades, within a strike price spectrum from $157.5 to $172.5 over the preceding 30 days.

Chevron Call and Put Volume: 30-Day Overview

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.

Following our analysis of the options activities associated with Chevron, we pivot to a closer look at the company's own performance.

Present Market Standing of Chevron

• Trading volume stands at 1,353,456, with CVX's price down by -0.37%, positioned at $162.25.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 2 days.

Expert Opinions on Chevron

In the last month, 5 experts released ratings on this stock with an average target price of $191.6.

• An analyst from UBS has decided to maintain their Buy rating on Chevron, which currently sits at a price target of $197.
• An analyst from Wells Fargo persists with their Overweight rating on Chevron, maintaining a target price of $198.
• An analyst from Piper Sandler persists with their Overweight rating on Chevron, maintaining a target price of $204.
• An analyst from Truist Securities has decided to maintain their Hold rating on Chevron, which currently sits at a price target of $156.
• Reflecting concerns, an analyst from Barclays lowers its rating to Overweight with a new price target of $203.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chevron with Benzinga Pro for real-time alerts.