Whales with a lot of money to spend have taken a noticeably bullish stance on Chevron.
Looking at options history for Chevron (NYSE:CVX) we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 41% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $502,545 and 10, calls, for a total amount of $607,929.
Predicted Price Range
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 $185.0 for Chevron during the past quarter.
Analyzing Volume & Open Interest
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 $185.0 in the last 30 days.
Chevron 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | PUT | SWEEP | BULLISH | 12/20/24 | $15.2 | $15.15 | $15.15 | $170.00 | $307.5K | 68 | 1 |
| CVX | PUT | TRADE | BULLISH | 10/18/24 | $6.65 | $6.45 | $6.5 | $160.00 | $195.0K | 3 | 0 |
| CVX | CALL | SWEEP | BULLISH | 08/16/24 | $6.3 | $6.15 | $6.3 | $155.00 | $126.0K | 1.9K | 140 |
| CVX | CALL | SWEEP | BEARISH | 01/16/26 | $12.35 | $12.0 | $12.02 | $170.00 | $119.0K | 322 | 0 |
| CVX | CALL | SWEEP | BEARISH | 07/19/24 | $1.23 | $1.02 | $1.05 | $157.50 | $111.7K | 2.3K | 148 |
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 2,002,341, the price of CVX is up by 2.27%, reaching $159.12.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 18 days from now.
Professional Analyst Ratings for Chevron
In the last month, 1 experts released ratings on this stock with an average target price of $180.0.
- Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Chevron, targeting a price of $180.
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.