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 16 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 43% bearish. Among these notable options, 5 are puts, totaling $307,850, and 11 are calls, amounting to $2,773,712.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $170.0 for Chevron over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Chevron stands at 2878.79, with a total volume reaching 12,242.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Chevron, situated within the strike price corridor from $100.0 to $170.0, throughout the last 30 days.
Chevron 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | CALL | SWEEP | BEARISH | 05/16/25 | $2.12 | $2.01 | $2.02 | $170.00 | $2.0M | 1.1K | 10.0K |
| CVX | CALL | SWEEP | BEARISH | 01/16/26 | $15.55 | $15.25 | $15.25 | $150.00 | $228.7K | 1.2K | 216 |
| CVX | CALL | TRADE | BEARISH | 01/16/26 | $9.9 | $9.85 | $9.85 | $165.00 | $172.3K | 1.8K | 236 |
| CVX | PUT | SWEEP | BEARISH | 04/17/25 | $4.1 | $3.9 | $4.05 | $155.00 | $124.7K | 915 | 398 |
| CVX | CALL | TRADE | BEARISH | 01/15/27 | $61.05 | $59.5 | $59.66 | $100.00 | $71.5K | 133 | 12 |
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.
Chevron's Current Market Status
- Trading volume stands at 4,164,384, with CVX's price down by -2.84%, positioned at $154.12.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 53 days.
What Analysts Are Saying About Chevron
In the last month, 5 experts released ratings on this stock with an average target price of $176.8.
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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 Wells Fargo has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $184. * Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Chevron with a target price of $194. * Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Chevron with a target price of $160. * An analyst from Barclays has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $171. * In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $175.
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.
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