Chevron Corp. (CVX) may hike its quarterly dividend next quarter, when it reports its Q4 results at the end of January 2027. That may imply that CVX stock becomes undervalued if it drops further. Also, analysts have higher CVX price targets (PTs). As a result, it makes sense to short out-of-the-money (OTM) puts or do put credit spreads.
CVX closed at $207.10 on Oct. 1, up 1.42%. It's below a recent Sept. 15 peak of $217.77, but above a low of $202.41 on Sept. 4.
