What Are Whales Doing With Chevron

What Are Whales Doing With Chevron

 

A whale with a lot of money to spend has taken a noticeably bearish stance on Chevron.

Looking at options history for Chevron CVX we detected 32 strange trades.

If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 59% with bearish.

From the overall spotted trades, 14 are puts, for a total amount of $2,027,851 and 18, calls, for a total amount of $2,683,745.

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 $90.0 to $190.0 for Chevron over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Chevron options trades today is 1705.0 with a total volume of 28,275.00.

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 $190.0 over the last 30 days.

Chevron 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
CVX PUT TRADE BEARISH 12/16/22 $145.00 $1.5M 1.1K 26
CVX CALL TRADE BEARISH 12/16/22 $190.00 $1.4M 522 10.0K
CVX CALL SWEEP BEARISH 12/16/22 $190.00 $186.9K 522 1.0K
CVX CALL SWEEP BEARISH 08/19/22 $157.50 $134.5K 915 2.7K
CVX CALL SWEEP BEARISH 01/20/23 $120.00 $113.6K 2.5K 30

Where Is Chevron Standing Right Now?

  • With a volume of 4,737,585, the price of CVX is up 1.13% at $155.14.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 80 days.

What The Experts Say On Chevron:

  • Morgan Stanley has decided to maintain their Equal-Weight rating on Chevron, which currently sits at a price target of $190.
  • Raymond James has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $185.
  • Piper Sandler has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $189.
  • Citigroup has decided to maintain their Neutral rating on Chevron, which currently sits at a price target of $150.
  • Wells Fargo has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $185.

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 Chevron, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets