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 25 uncommon options trades for Chevron.
This isn't normal.
The overall sentiment of these big-money traders is split between 28% bullish and 48%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $1,076,537, and 15 are calls, for a total amount of $707,037.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $75.0 to $250.0 for Chevron over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Chevron options trades today is 2764.0 with a total volume of 9,957.00.
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 $75.0 to $250.0 over the last 30 days.
Chevron Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | PUT | SWEEP | BULLISH | 01/17/25 | $6.8 | $6.75 | $6.75 | $140.00 | $481.2K | 13.1K | 103 |
| CVX | PUT | SWEEP | BULLISH | 12/20/24 | $8.95 | $8.85 | $8.95 | $145.00 | $161.1K | 3.0K | 195 |
| CVX | PUT | TRADE | BEARISH | 06/20/25 | $5.25 | $5.05 | $5.25 | $125.00 | $129.6K | 2.2K | 264 |
| CVX | CALL | SWEEP | BEARISH | 12/20/24 | $7.15 | $7.0 | $7.05 | $145.00 | $126.9K | 406 | 210 |
| CVX | CALL | TRADE | BULLISH | 01/17/25 | $8.1 | $7.9 | $8.1 | $145.00 | $75.3K | 3.3K | 359 |
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.
Where Is Chevron Standing Right Now?
- Trading volume stands at 4,828,890, with CVX's price down by -0.56%, positioned at $144.21.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 73 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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