Chevron's Options Frenzy: What You Need to Know

Financial giants have made a conspicuous bearish move on Chevron. Our analysis of options history for Chevron CVX revealed 11 unusual trades.

Delving into the details, we found 36% of traders were bullish, while 63% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $63,505, and 9 were calls, valued at $367,210.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $130.0 to $180.0 for Chevron during the past quarter.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Chevron's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Chevron's whale activity within a strike price range from $130.0 to $180.0 in 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.

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

Present Market Standing of Chevron

• With a trading volume of 2,648,685, the price of CVX is up by 0.33%, reaching $153.58.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 88 days from now.

What The Experts Say On Chevron

In the last month, 5 experts released ratings on this stock with an average target price of $171.8.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Chevron with a target price of $174. * Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Chevron, targeting a price of $192. * An analyst from RBC Capital persists with their Outperform rating on Chevron, maintaining a target price of $175. * Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Chevron with a target price of $155. * Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Chevron, targeting a price of $163.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Chevron, Benzinga Pro gives you real-time options trades alerts.