Looking At Chevron's Recent Unusual Options Activity

Whales with a lot of money to spend have taken a noticeably bearish stance on Chevron.

Looking at options history for Chevron CVX we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $283,032 and 4, calls, for a total amount of $198,980.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $155.0 to $180.0 for Chevron over the recent three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Chevron stands at 2231.71, with a total volume reaching 556.00. 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 $155.0 to $180.0, throughout the last 30 days.

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 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 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 US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2023 stood at 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 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.

Present Market Standing of Chevron

• Currently trading with a volume of 1,081,434, the CVX's price is up by 0.83%, now at $157.71.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 8 days.

What Analysts Are Saying About Chevron

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $187.0.

• An analyst from Piper Sandler persists with their Overweight rating on Chevron, maintaining a target price of $204.
• An analyst from Wells Fargo persists with their Overweight rating on Chevron, maintaining a target price of $198.
• Maintaining their stance, an analyst from Raymond James continues to hold a Outperform rating for Chevron, targeting a price of $174.
• An analyst from Barclays has revised its rating downward to Overweight, adjusting the price target to $203.
• An analyst from Truist Securities persists with their Hold rating on Chevron, maintaining a target price of $156.

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.