Deep-pocketed investors have adopted a bullish approach towards Chevron (NYSE: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 18 extraordinary options activities for Chevron. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 44% bearish. Among these notable options, 7 are puts, totaling $287,630, and 11 are calls, amounting to $945,731.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $165.0 for Chevron, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Chevron's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Chevron's substantial trades, within a strike price spectrum from $70.0 to $165.0 over the preceding 30 days.
Chevron Option Volume And Open Interest Over Last 30 Days
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 | 06/18/26 | $33.2 | $32.35 | $33.2 | $120.00 | $328.6K | 113 | 100 |
| CVX | CALL | TRADE | BULLISH | 12/19/25 | $16.35 | $15.5 | $16.35 | $135.00 | $99.7K | 68 | 62 |
| CVX | CALL | TRADE | BULLISH | 01/15/27 | $8.3 | $8.2 | $8.3 | $165.00 | $93.7K | 736 | 113 |
| CVX | PUT | TRADE | BULLISH | 05/15/26 | $8.0 | $7.9 | $7.9 | $150.00 | $79.0K | 1.6K | 184 |
| CVX | CALL | TRADE | BEARISH | 05/15/26 | $7.65 | $7.2 | $7.25 | $155.00 | $68.1K | 759 | 102 |
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.
Where Is Chevron Standing Right Now?
- With a volume of 4,626,842, the price of CVX is down -0.69% at $150.36.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 50 days.
Expert Opinions on 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. * An analyst from Mizuho persists with their Outperform rating on Chevron, maintaining a target price of $204. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Chevron, targeting a price of $180. * Showing optimism, an analyst from HSBC upgrades its rating to Buy with a revised price target of $169. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Chevron, targeting a price of $168. * Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Chevron, targeting a price of $180.
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.
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