Investors with significant funds have taken a bullish position in Chevron CVX, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in CVX usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for Chevron. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 62% being bullish and 25% bearish. Of all the options we discovered, 7 are puts, valued at $1,160,735, and there was a single call, worth $117,300.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $140.0 and $175.0 for Chevron, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Chevron's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Chevron's whale trades within a strike price range from $140.0 to $175.0 in the last 30 days.
Chevron Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | PUT | TRADE | BEARISH | 01/16/26 | $8.7 | $8.35 | $8.6 | $140.00 | $860.0K | 2.8K | 0 |
| CVX | CALL | SWEEP | BULLISH | 03/21/25 | $17.25 | $17.15 | $17.25 | $150.00 | $117.3K | 54 | 3 |
| CVX | PUT | SWEEP | BULLISH | 07/19/24 | $3.15 | $3.1 | $3.1 | $160.00 | $79.6K | 4.3K | 11 |
| CVX | PUT | SWEEP | BULLISH | 06/28/24 | $0.77 | $0.66 | $0.65 | $157.50 | $65.2K | 557 | 16 |
| CVX | PUT | SWEEP | BULLISH | 01/17/25 | $7.35 | $7.2 | $7.25 | $155.00 | $50.7K | 4.7K | 37 |
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.
Chevron's Current Market Status
- Trading volume stands at 1,710,683, with CVX's price down by -0.64%, positioned at $158.29.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 31 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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