A financial giant has made a conspicuous bearish move on Chevron. Our analysis of options history for Chevron CVX revealed 16 unusual trades. Delving into the details, we found 25% of traders were bullish, while 75% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $933,415, and 7 were calls, valued at $314,318.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $105.0 to $165.0 for Chevron during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Chevron options trades today is 4259.82 with a total volume of 1,994.00.
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 $105.0 to $165.0 over the last 30 days.
Chevron Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVX | PUT | TRADE | BEARISH | 11/17/23 | $160.00 | $184.2K | 6.7K | 107 |
| CVX | PUT | SWEEP | BULLISH | 12/15/23 | $155.00 | $135.3K | 10.0K | 11 |
| CVX | PUT | SWEEP | BULLISH | 01/19/24 | $135.00 | $112.0K | 6.5K | 298 |
| CVX | CALL | SWEEP | BULLISH | 01/19/24 | $135.00 | $106.0K | 1.3K | 43 |
| CVX | PUT | TRADE | BULLISH | 11/17/23 | $160.00 | $92.8K | 6.7K | 307 |
Where Is Chevron Standing Right Now?
- With a volume of 4,007,175, the price of CVX is down -0.97% at $143.01.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 79 days.
Expert Opinions on Chevron:
- In a cautious move, Bernstein downgraded its rating to Market Perform, setting a price target of $184.
- In a cautious move, RBC Capital downgraded its rating to Outperform, setting a price target of $180.
- Bernstein has elevated its stance to Outperform, setting a new price target at $182.
- Maintaining their stance, Morgan Stanley continues to hold a Equal-Weight rating for Chevron, targeting a price of $201.
- B of A Securities has elevated its stance to Buy, setting a new price target at $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.
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