Looking At Chevron's Recent Unusual Options Activity

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

Looking at options history for Chevron CVX we detected 14 strange trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $256,122 and 8, calls, for a total amount of $267,671.

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 $145.0 to $180.0 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 2020.75 with a total volume of 1,531.00.

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 $145.0 to $180.0 over the last 30 days.

Chevron Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CVX PUT SWEEP BEARISH 01/19/24 $150.00 $56.8K 4.7K 0
CVX PUT TRADE NEUTRAL 04/14/23 $175.00 $51.5K 582 100
CVX CALL SWEEP BEARISH 09/15/23 $180.00 $48.9K 1.6K 69
CVX PUT SWEEP BULLISH 09/15/23 $180.00 $46.8K 395 33
CVX PUT SWEEP BULLISH 09/15/23 $170.00 $42.6K 1.4K 38

Where Is Chevron Standing Right Now?

  • With a volume of 1,450,372, the price of CVX is up 0.74% at $169.53.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 17 days.

What The Experts Say On Chevron:

  • Exane BNP Paribas upgraded its action to Neutral with a price target of $200
  • Mizuho downgraded its action to Neutral with a price target of $206
  • Mizuho downgraded its action to Neutral with a price target of $206
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Chevron, which currently sits at a price target of $192.
  • Truist Securities has decided to maintain their Buy rating on Chevron, which currently sits at a price target of $193.

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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
▲▼
ticker
▲▼
Put/Call
▲▼
Strike Price
▲▼
DTE
▲▼
Sentiment
▲▼
Posted In: OptionsMarketsBZI-UOA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!