Investors with a lot of money to spend have taken a bullish stance on Chevron CVX.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CVX, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 13 uncommon options trades for Chevron.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 38%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $442,950, and 5 are calls, for a total amount of $366,345.
What's The Price Target?
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 2332.1 with a total volume of 172.00.
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
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 | TRADE | BULLISH | 09/20/24 | $3.75 | $3.7 | $3.75 | $160.00 | $120.0K | 7.3K | 56 |
| CVX | CALL | TRADE | BULLISH | 12/18/26 | $22.1 | $22.1 | $22.1 | $155.00 | $110.5K | 15 | 0 |
| CVX | PUT | SWEEP | BULLISH | 06/20/25 | $7.95 | $7.95 | $7.9 | $145.00 | $81.5K | 998 | 0 |
| CVX | PUT | SWEEP | BEARISH | 06/20/25 | $7.9 | $7.9 | $7.9 | $145.00 | $75.8K | 998 | 0 |
| CVX | PUT | SWEEP | BEARISH | 03/21/25 | $6.2 | $6.15 | $6.2 | $145.00 | $74.4K | 599 | 1 |
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.
Where Is Chevron Standing Right Now?
- Trading volume stands at 5,407,387, with CVX's price down by 0.0%, positioned at $155.13.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 22 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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