Decoding Chevron's Options Activity: What's the Big Picture?

Financial giants have made a conspicuous bearish move on Chevron. Our analysis of options history for Chevron CVX revealed 16 unusual trades.

Delving into the details, we found 25% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $296,490, and 10 were calls, valued at $459,150.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $135.0 to $160.0 for Chevron over the last 3 months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Chevron options trades today is 2042.0 with a total volume of 930.00.

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 $135.0 to $160.0 over the last 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.

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

• With a volume of 1,304,398, the price of CVX is down -2.2% at $147.79.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 24 days.

Professional Analyst Ratings for Chevron

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $169.2.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from UBS persists with their Buy rating on Chevron, maintaining a target price of $189. * Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Chevron with a target price of $150. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Chevron with a target price of $169. * An analyst from RBC Capital downgraded its action to Outperform with a price target of $170. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Chevron, targeting a price of $168.

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.