High-rolling investors have positioned themselves bearish on Chevron CVX, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in CVX often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Chevron. This is not a typical pattern.
The sentiment among these major traders is split, with 44% bullish and 55% bearish. Among all the options we identified, there was one put, amounting to $130,000, and 8 calls, totaling $1,003,485.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $145.0 to $150.0 for Chevron over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Chevron stands at 6979.6, with a total volume reaching 1,102.00. 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 $145.0 to $150.0, throughout the last 30 days.
Chevron Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVX | CALL | SWEEP | BULLISH | 01/17/25 | $145.00 | $439.5K | 2.8K | 200 |
| CVX | CALL | TRADE | BULLISH | 01/17/25 | $145.00 | $214.6K | 2.8K | 50 |
| CVX | PUT | TRADE | BEARISH | 06/21/24 | $150.00 | $130.0K | 3.8K | 0 |
| CVX | CALL | TRADE | BULLISH | 01/19/24 | $150.00 | $127.2K | 15.1K | 666 |
| CVX | CALL | TRADE | BULLISH | 01/17/25 | $145.00 | $73.7K | 2.8K | 0 |
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.
Chevron's Current Market Status
- With a trading volume of 2,657,041, the price of CVX is up by 0.65%, reaching $143.45.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 50 days from now.
Professional Analyst Ratings for Chevron
In the last month, 1 experts released ratings on this stock with an average target price of $195.0.
- Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for Chevron, targeting a price of $195.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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