Chevron Unusual Options Activity

Investors with a lot of money to spend have taken a bearish 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 35% bullish and 64%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $278,755, and 9 are calls, for a total amount of $555,430.

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 $120.0 to $160.0 for Chevron during the past quarter.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Chevron's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Chevron's substantial trades, within a strike price spectrum from $120.0 to $160.0 over the preceding 30 days.

Chevron 30-Day Option Volume & Interest Snapshot

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.

In light of the recent options history for Chevron, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Chevron's Current Market Status

• With a trading volume of 3,631,851, the price of CVX is up by 0.21%, reaching $149.99.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 38 days from now.

What The Experts Say On Chevron

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $185.0.

• An analyst from UBS persists with their Buy rating on Chevron, maintaining a target price of $185.

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.