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 50% leaning bullish and 37% bearish. Among these notable options, 2 are puts, totaling $120,230, and 6 are calls, amounting to $229,971.
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 $155.0 for Chevron over the recent three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Chevron options trades today is 1478.57 with a total volume of 1,475.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Chevron's big money trades within a strike price range of $130.0 to $155.0 over the last 30 days.
Chevron Call and Put Volume: 30-Day Overview
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 | BEARISH | 01/17/25 | $3.35 | $3.2 | $3.3 | $149.00 | $83.1K | 4 | 252 |
| CVX | CALL | TRADE | BULLISH | 02/21/25 | $6.15 | $6.05 | $6.15 | $145.00 | $67.6K | 2.5K | 460 |
| CVX | CALL | TRADE | BEARISH | 03/21/25 | $2.5 | $2.45 | $2.47 | $155.00 | $44.2K | 4.4K | 80 |
| CVX | PUT | SWEEP | BULLISH | 03/21/25 | $7.6 | $7.35 | $7.4 | $150.00 | $37.0K | 2.5K | 52 |
| CVX | CALL | SWEEP | BULLISH | 01/10/25 | $2.31 | $2.12 | $2.2 | $146.00 | $33.0K | 106 | 321 |
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.
Current Position of Chevron
- With a volume of 1,353,849, the price of CVX is up 1.8% at $147.44.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 29 days.
What The Experts Say On Chevron
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $173.66666666666666.
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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 Piper Sandler persists with their Overweight rating on Chevron, maintaining a target price of $173. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Chevron, targeting a price of $188. * Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Chevron, targeting a price of $160.
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