Financial giants have made a conspicuous bearish move on Chevron. Our analysis of options history for Chevron CVX revealed 12 unusual trades.
Delving into the details, we found 25% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $839,579, and 4 were calls, valued at $462,055.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $130.0 to $152.5 for Chevron over the recent three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Chevron's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Chevron's significant trades, within a strike price range of $130.0 to $152.5, over the past month.
Chevron 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | PUT | SWEEP | BULLISH | 11/15/24 | $1.03 | $0.98 | $1.0 | $140.00 | $420.6K | 5.3K | 4.9K |
| CVX | CALL | TRADE | BEARISH | 11/08/24 | $9.25 | $9.05 | $9.12 | $140.00 | $319.1K | 3 | 350 |
| CVX | PUT | SWEEP | BEARISH | 11/22/24 | $3.75 | $3.75 | $3.75 | $148.00 | $95.2K | 51 | 2 |
| CVX | CALL | TRADE | NEUTRAL | 11/15/24 | $18.65 | $18.35 | $18.51 | $130.00 | $92.5K | 89 | 65 |
| CVX | PUT | SWEEP | BEARISH | 11/15/24 | $4.85 | $4.75 | $4.85 | $152.50 | $91.1K | 626 | 229 |
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?
- Currently trading with a volume of 4,059,401, the CVX's price is down by -1.37%, now at $148.48.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 3 days.
What The Experts Say On Chevron
5 market experts have recently issued ratings for this stock, with a consensus target price of $168.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Chevron with a target price of $192. * An analyst from RBC Capital downgraded its action to Outperform with a price target of $170. * An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Chevron, which currently sits at a price target of $163. * Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Chevron with a target price of $150. * An analyst from B of A Securities downgraded its action to Buy with a price target of $168.
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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