Spotlight on Chevron: Analyzing the Surge in Options Activity

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 33% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $149,620, and 5 were calls, valued at $297,165.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $120.0 to $170.0 for Chevron over the recent three months.

Analyzing Volume & Open Interest

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 $120.0 to $170.0, over the past month.

Chevron 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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.

Having examined the options trading patterns of Chevron, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Chevron

• With a trading volume of 2,539,461, the price of CVX is down by -0.42%, reaching $161.25.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 60 days from now.

Expert Opinions on Chevron

5 market experts have recently issued ratings for this stock, with a consensus target price of $176.6.

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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 UBS has decided to maintain their Buy rating on Chevron, which currently sits at a price target of $194. * Showing optimism, an analyst from Citigroup upgrades its rating to Buy with a revised price target of $185. * An analyst from Barclays has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $174. * An analyst from Truist Securities has decided to maintain their Hold rating on Chevron, which currently sits at a price target of $155. * An analyst from RBC Capital persists with their Outperform rating on Chevron, maintaining a target price of $175.

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.