Investors with a lot of money to spend have taken a bearish stance on Chevron (NYSE:CVX).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CVX, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 13 uncommon options trades for Chevron.
This isn't normal.
The overall sentiment of these big-money traders is split between 23% bullish and 61%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $162,552, and 11 are calls, for a total amount of $485,667.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $150.0 to $170.0 for Chevron over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Chevron stands at 4335.0, with a total volume reaching 5,226.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Chevron, situated within the strike price corridor from $150.0 to $170.0, throughout the last 30 days.
Chevron Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | PUT | TRADE | BEARISH | 01/17/25 | $6.6 | $6.45 | $6.55 | $150.00 | $131.0K | 6.5K | 211 |
| CVX | CALL | SWEEP | BULLISH | 01/17/25 | $6.85 | $6.7 | $6.78 | $160.00 | $64.5K | 7.0K | 41 |
| CVX | CALL | SWEEP | BULLISH | 01/17/25 | $6.8 | $6.65 | $6.74 | $160.00 | $64.0K | 7.0K | 359 |
| CVX | CALL | SWEEP | BULLISH | 01/17/25 | $6.7 | $6.6 | $6.37 | $160.00 | $63.0K | 7.0K | 541 |
| CVX | CALL | SWEEP | NEUTRAL | 01/17/25 | $6.7 | $6.6 | $6.64 | $160.00 | $62.8K | 7.0K | 784 |
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
Chevron's Current Market Status
- Currently trading with a volume of 1,581,912, the CVX's price is down by -0.22%, now at $156.64.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 10 days.
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.