Deep-pocketed investors have adopted a bullish approach towards Chevron CVX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CVX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Chevron. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 62% leaning bullish and 0% bearish. Among these notable options, 3 are puts, totaling $189,400, and 5 are calls, amounting to $276,320.
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 $160.0 for Chevron during the past quarter.
Insights into Volume & Open Interest
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 $130.0 to $160.0 in the last 30 days.
Chevron Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | PUT | TRADE | BULLISH | 01/16/26 | $11.7 | $11.55 | $11.6 | $155.00 | $104.4K | 728 | 310 |
| CVX | CALL | SWEEP | BULLISH | 03/21/25 | $8.55 | $8.45 | $8.55 | $160.00 | $96.6K | 1.4K | 113 |
| CVX | CALL | SWEEP | NEUTRAL | 03/21/25 | $8.6 | $8.5 | $8.55 | $160.00 | $85.5K | 1.4K | 213 |
| CVX | PUT | SWEEP | BULLISH | 03/21/25 | $6.7 | $6.65 | $6.65 | $160.00 | $47.8K | 483 | 72 |
| CVX | CALL | SWEEP | BULLISH | 12/19/25 | $34.95 | $33.75 | $34.95 | $130.00 | $38.4K | 47 | 0 |
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.
Current Position of Chevron
- With a trading volume of 1,028,937, the price of CVX is up by 0.3%, reaching $160.08.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 72 days from now.
What Analysts Are Saying About Chevron
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $174.5.
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. * An analyst from RBC Capital has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $175. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Chevron, targeting a price of $174. * An analyst from UBS has decided to maintain their Buy rating on Chevron, which currently sits at a price target of $194. * An analyst from Truist Securities persists with their Hold rating on Chevron, maintaining a target price of $155.
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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