This Is What Whales Are Betting On Chevron

Financial giants have made a conspicuous bullish move on Chevron. Our analysis of options history for Chevron CVX revealed 11 unusual trades.

Delving into the details, we found 54% of traders were bullish, while 45% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $608,182, and 4 were calls, valued at $307,726.

Predicted Price Range

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 $165.0 for Chevron during the past quarter.

Volume & Open Interest Development

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 $130.0 to $165.0, over the past month.

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 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 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 U.S. and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2022 stood at 11.2 billion barrels of oil equivalent, including 6.1 billion barrels of liquids and 30.9 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

Where Is Chevron Standing Right Now?

• With a trading volume of 2,309,424, the price of CVX is up by 0.54%, reaching $143.72.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 74 days from now.

Professional Analyst Ratings for Chevron

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $184.2.

• An analyst from Bernstein has revised its rating downward to Market Perform, adjusting the price target to $184.
• An analyst from Bernstein has elevated its stance to Outperform, setting a new price target at $182.
• In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $180.
• An analyst from Raymond James has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $175.
• An analyst from B of A Securities upgraded its action to Buy with a price target of $200.

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.