Market Whales and Their Recent Bets on CVX Options

Investors with a lot of money to spend have taken a bullish 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 17 uncommon options trades for Chevron.

This isn't normal.

The overall sentiment of these big-money traders is split between 52% bullish and 35%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $197,606, and 12 are calls, for a total amount of $686,798.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $95.0 to $200.0 for Chevron during the past quarter.

Volume & Open Interest Development

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 $95.0 to $200.0 in the last 30 days.

Chevron Call and Put Volume: 30-Day Overview

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.

Following our analysis of the options activities associated with Chevron, we pivot to a closer look at the company's own performance.

Present Market Standing of Chevron

• Trading volume stands at 3,316,461, with CVX's price up by 1.37%, positioned at $156.28.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 70 days.

What Analysts Are Saying About Chevron

In the last month, 5 experts released ratings on this stock with an average target price of $174.0.

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 Barclays persists with their Overweight rating on Chevron, maintaining a target price of $171. * An analyst from Raymond James persists with their Outperform rating on Chevron, maintaining a target price of $175. * An analyst from Raymond James has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $180. * An analyst from Truist Securities persists with their Hold rating on Chevron, maintaining a target price of $160. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Chevron, targeting a price of $184.

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.