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 8 trades.
If we consider the specifics of each trade, it is accurate to state that 0% of the investors opened trades with bullish expectations and 75% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $158,861 and 4, calls, for a total amount of $168,509.
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 $150.0 to $165.0 for Chevron during the past quarter.
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 $150.0 to $165.0 over the preceding 30 days.
Chevron Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | CALL | SWEEP | BEARISH | 07/05/24 | $1.3 | $1.25 | $1.25 | $160.00 | $55.8K | 1.5K | 675 |
| CVX | PUT | TRADE | NEUTRAL | 01/17/25 | $8.6 | $8.45 | $8.53 | $155.00 | $48.6K | 4.6K | 100 |
| CVX | CALL | SWEEP | BEARISH | 06/20/25 | $10.45 | $10.25 | $10.3 | $165.00 | $48.4K | 938 | 22 |
| CVX | PUT | SWEEP | NEUTRAL | 01/17/25 | $8.8 | $8.5 | $8.67 | $155.00 | $43.4K | 4.6K | 0 |
| CVX | PUT | SWEEP | BEARISH | 06/21/24 | $2.03 | $1.35 | $1.88 | $155.00 | $38.8K | 7.7K | 0 |
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.
Chevron's Current Market Status
- Trading volume stands at 3,417,699, with CVX's price up by 2.3%, positioned at $156.85.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 36 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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