Check Out What Whales Are Doing With CVE

Check Out What Whales Are Doing With CVE

A whale with a lot of money to spend has taken a noticeably bullish stance on Cenovus Energy.

Looking at options history for Cenovus Energy CVE we detected 15 strange trades.

If we consider the specifics of each trade, it is accurate to state that 73% of the investors opened trades with bullish expectations and 26% with bearish.

From the overall spotted trades, 11 are puts, for a total amount of $710,180 and 4, calls, for a total amount of $245,625.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $22.0 for Cenovus Energy over the last 3 months.

Volume & Open Interest Development

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 Cenovus Energy'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 Cenovus Energy's whale trades within a strike price range from $15.0 to $22.0 in the last 30 days.

Cenovus Energy Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CVE CALL SWEEP BEARISH 01/20/23 $20.00 $156.0K 12.4K 815
CVE PUT SWEEP BULLISH 06/16/23 $20.00 $106.0K 1.4K 400
CVE PUT SWEEP BULLISH 06/16/23 $20.00 $104.0K 1.4K 660
CVE PUT SWEEP BEARISH 06/16/23 $20.00 $95.4K 1.4K 180
CVE PUT SWEEP BULLISH 01/20/23 $20.00 $88.0K 1.8K 200

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CVE CALL SWEEP BEARISH 01/20/23 $20.00 $156.0K 12.4K 815
CVE PUT SWEEP BULLISH 06/16/23 $20.00 $106.0K 1.4K 400
CVE PUT SWEEP BULLISH 06/16/23 $20.00 $104.0K 1.4K 660
CVE PUT SWEEP BEARISH 06/16/23 $20.00 $95.4K 1.4K 180
CVE PUT SWEEP BULLISH 01/20/23 $20.00 $88.0K 1.8K 200

Where Is Cenovus Energy Standing Right Now?

  • With a volume of 6,088,091, the price of CVE is down -2.69% at $17.54.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 17 days.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Cenovus Energy, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets