Deep-pocketed investors have adopted a bullish approach towards Chevron CVX, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CVX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 23 extraordinary options activities for Chevron. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 43% leaning bullish and 43% bearish. Among these notable options, 13 are puts, totaling $486,061, and 10 are calls, amounting to $1,784,954.
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 $110.0 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 1716.53 with a total volume of 6,552.00.
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 $110.0 to $160.0 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 | CALL | TRADE | BULLISH | 01/16/26 | $6.85 | $6.65 | $6.83 | $160.00 | $1.3M | 1.1K | 2.0K |
| CVX | CALL | SWEEP | BULLISH | 12/19/25 | $14.45 | $14.3 | $14.45 | $140.00 | $72.2K | 294 | 50 |
| CVX | CALL | TRADE | BEARISH | 06/20/25 | $11.7 | $11.6 | $11.6 | $140.00 | $58.0K | 501 | 100 |
| CVX | PUT | SWEEP | BEARISH | 01/17/25 | $4.55 | $4.5 | $4.55 | $145.00 | $57.3K | 9.3K | 275 |
| CVX | CALL | TRADE | BULLISH | 01/17/25 | $2.83 | $2.83 | $2.83 | $145.00 | $56.6K | 4.0K | 455 |
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.
Present Market Standing of Chevron
- Trading volume stands at 6,556,727, with CVX's price down by -1.42%, positioned at $142.03.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 43 days.
What Analysts Are Saying About Chevron
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $180.2.
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. * In a positive move, an analyst from Citigroup has upgraded their rating to Buy and adjusted the price target to $185. * Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Chevron, targeting a price of $160. * An analyst from UBS persists with their Buy rating on Chevron, maintaining a target price of $195. * An analyst from Piper Sandler has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $173. * An analyst from Wells Fargo has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $188.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
