Spotlight on Chevron: Analyzing the Surge in Options Activity

Financial giants have made a conspicuous bullish move on Chevron. Our analysis of options history for Chevron CVX revealed 9 unusual trades.

Delving into the details, we found 66% of traders were bullish, while 22% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $213,946, and 4 were calls, valued at $157,200.

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Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $90.0 to $145.0 for Chevron over the recent three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Chevron options trades today is 1355.56 with a total volume of 1,219.00.

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 $90.0 to $145.0 over the last 30 days.

Chevron Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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 US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2024 stood at 9.8 billion barrels of oil equivalent, including 5.1 billion barrels of liquids and 28.4 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.

Chevron's Current Market Status

• With a volume of 2,232,866, the price of CVX is up 2.04% at $136.46.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 10 days.

What Analysts Are Saying About Chevron

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $167.0.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from UBS persists with their Buy rating on Chevron, maintaining a target price of $185. * An analyst from Scotiabank downgraded its action to Sector Perform with a price target of $143. * An analyst from Wells Fargo has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $173.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chevron with Benzinga Pro for real-time alerts.