Market Whales and Their Recent Bets on 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 16 uncommon options trades for Chevron.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.

Out of all of the special options we uncovered, 11 are puts, for a total amount of $1,276,729, and 5 are calls, for a total amount of $154,080.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $125.0 to $170.0 for Chevron over the recent three months.

Volume & Open Interest Development

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 $125.0 to $170.0 over the preceding 30 days.

Chevron Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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.

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

Current Position of Chevron

• With a trading volume of 5,857,570, the price of CVX is down by -3.13%, reaching $157.21.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 53 days from now.

What Analysts Are Saying About Chevron

In the last month, 2 experts released ratings on this stock with an average target price of $185.5.

• Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for Chevron, targeting a price of $205.
• Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Chevron, targeting a price of $166.

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.