Deep-pocketed investors have adopted a bearish 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 22 extraordinary options activities for Chevron. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 59% bearish. Among these notable options, 5 are puts, totaling $359,410, and 17 are calls, amounting to $1,604,863.
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 $140.0 to $180.0 for Chevron over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $140.0 to $180.0 in the last 30 days.
Chevron Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CVX | CALL | TRADE | BEARISH | 05/17/24 | $160.00 | $523.8K | 3.3K | 191 |
| CVX | PUT | SWEEP | BEARISH | 01/17/25 | $150.00 | $202.5K | 5.7K | 195 |
| CVX | CALL | TRADE | BULLISH | 03/22/24 | $150.00 | $177.5K | 818 | 506 |
| CVX | CALL | SWEEP | BEARISH | 12/20/24 | $180.00 | $134.5K | 66 | 449 |
| CVX | CALL | TRADE | NEUTRAL | 01/16/26 | $145.00 | $107.7K | 279 | 50 |
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 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 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 U.S. and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2022 stood at 11.2 billion barrels of oil equivalent, including 6.1 billion barrels of liquids and 30.9 trillion cubic feet of natural gas.
In light of the recent options history for Chevron, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Chevron
- With a trading volume of 8,339,548, the price of CVX is up by 0.95%, reaching $151.01.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 51 days from now.
What The Experts Say On Chevron
In the last month, 1 experts released ratings on this stock with an average target price of $160.0.
- In a cautious move, an analyst from DZ Bank downgraded its rating to Hold, setting a price target of $160.
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
