Investors with a lot of money to spend have taken a bearish 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 12 uncommon options trades for Chevron.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 41%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $190,690, and 8 are calls, for a total amount of $575,763.
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 $90.0 to $165.0 for Chevron during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Chevron stands at 1632.0, with a total volume reaching 6,310.00. 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 $90.0 to $165.0, throughout the last 30 days.
Chevron Option Activity Analysis: 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 | TRADE | BEARISH | 12/20/24 | $1.84 | $1.77 | $1.77 | $160.00 | $283.2K | 5.5K | 1.8K |
| CVX | CALL | SWEEP | BULLISH | 11/15/24 | $4.4 | $4.35 | $4.4 | $150.00 | $123.2K | 2.2K | 406 |
| CVX | PUT | SWEEP | BEARISH | 03/21/25 | $2.88 | $2.86 | $2.88 | $130.00 | $85.8K | 2.5K | 305 |
| CVX | PUT | SWEEP | BULLISH | 01/16/26 | $4.2 | $4.05 | $4.05 | $115.00 | $40.5K | 815 | 100 |
| CVX | PUT | TRADE | BEARISH | 10/18/24 | $1.78 | $1.71 | $1.78 | $145.00 | $39.1K | 2.1K | 297 |
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.
In light of the recent options history for Chevron, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Chevron Standing Right Now?
- Trading volume stands at 4,234,428, with CVX's price up by 0.21%, positioned at $147.85.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 31 days.
What The Experts Say On Chevron
2 market experts have recently issued ratings for this stock, with a consensus target price of $189.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Mizuho persists with their Outperform rating on Chevron, maintaining a target price of $189. * An analyst from UBS has decided to maintain their Buy rating on Chevron, which currently sits at a price target of $189.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Chevron, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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