Financial giants have made a conspicuous bearish move on Chevron. Our analysis of options history for Chevron CVX revealed 9 unusual trades.
Delving into the details, we found 44% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $262,772, and 4 were calls, valued at $193,400.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $135.0 and $160.0 for Chevron, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Chevron stands at 3739.62, with a total volume reaching 1,343.00. 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 $135.0 to $160.0, throughout the last 30 days.
Chevron 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | PUT | SWEEP | BEARISH | 11/15/24 | $6.7 | $6.6 | $6.7 | $150.00 | $114.5K | 991 | 179 |
| CVX | CALL | TRADE | BULLISH | 12/20/24 | $1.84 | $1.61 | $1.8 | $160.00 | $90.0K | 4.8K | 506 |
| CVX | PUT | TRADE | BEARISH | 12/20/24 | $4.05 | $3.9 | $4.0 | $140.00 | $40.0K | 4.7K | 112 |
| CVX | PUT | SWEEP | BEARISH | 11/15/24 | $1.42 | $1.41 | $1.42 | $135.00 | $38.9K | 1.6K | 279 |
| CVX | CALL | TRADE | BULLISH | 12/18/26 | $14.2 | $13.85 | $14.2 | $155.00 | $35.5K | 162 | 25 |
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 787,602, with CVX's price up by 1.45%, positioned at $146.05.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 36 days.
Expert Opinions on Chevron
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $189.0.
- Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Chevron, targeting a price of $189.
- An analyst from Mizuho has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $189.
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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