Big Players' Recent Trades in 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 14 uncommon options trades for Chevron.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $404,025, and 7 are calls, for a total amount of $328,505.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $135.0 to $180.0 for Chevron over the recent three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Chevron stands at 3618.54, with a total volume reaching 1,096.00. 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 $135.0 to $180.0, throughout the last 30 days.

Chevron Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

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?

• Currently trading with a volume of 4,016,332, the CVX's price is up by 1.34%, now at $143.68.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is 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 $183.8.

• In a cautious move, an analyst from RBC Capital downgraded its rating to Outperform, setting a price target of $180.
• An analyst from Truist Securities persists with their Hold rating on Chevron, maintaining a target price of $169.
• Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for Chevron, targeting a price of $195.
• An analyst from B of A Securities upgraded its action to Buy with a price target of $200.
• Maintaining their stance, an analyst from Raymond James continues to hold a Outperform rating for Chevron, targeting a price of $175.

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.