Financial giants have made a conspicuous bearish move on Chevron. Our analysis of options history for Chevron CVX revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $154,930, and 5 were calls, valued at $187,518.
What's The Price Target?
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 $175.0 for Chevron during the past quarter.
Insights into Volume & Open Interest
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 $130.0 to $175.0 over the preceding 30 days.
Chevron 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | PUT | TRADE | BEARISH | 12/19/25 | $18.25 | $18.15 | $18.25 | $165.00 | $83.9K | 76 | 51 |
| CVX | CALL | SWEEP | NEUTRAL | 12/06/24 | $4.75 | $4.65 | $4.7 | $152.50 | $66.2K | 128 | 192 |
| CVX | CALL | TRADE | BULLISH | 06/18/26 | $22.05 | $22.05 | $22.05 | $145.00 | $44.1K | 200 | 20 |
| CVX | PUT | SWEEP | BEARISH | 01/17/25 | $4.35 | $4.2 | $4.3 | $155.00 | $41.2K | 7.8K | 96 |
| CVX | PUT | SWEEP | BULLISH | 12/13/24 | $1.54 | $1.5 | $1.5 | $150.00 | $29.7K | 49 | 387 |
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.
After a thorough review of the options trading surrounding Chevron, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Chevron Standing Right Now?
- Currently trading with a volume of 2,049,647, the CVX's price is down by -0.48%, now at $155.75.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 80 days.
Professional Analyst Ratings for Chevron
In the last month, 5 experts released ratings on this stock with an average target price of $173.2.
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 B of A Securities has revised its rating downward to Buy, adjusting the price target to $168. * Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Chevron with a target price of $194. * Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Chevron, targeting a price of $175. * Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Chevron with a target price of $155. * An analyst from Barclays persists with their Overweight rating on Chevron, maintaining a target price of $174.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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