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Barchart
Barchart
Mark R. Hake, CFA

Chevron Stock Moves Higher on Strong Results -Shorting CVX Puts and Calls Works Here

CVX Chevron Gas Prices Oil Barchart Yahoo Finance

Chevron Corp (CVX) stock rose Friday on strong Q2 results, including $22.6 billion in operating cash flow, up from $8.6 billion last year. If oil and gas prices stay elevated, CVX stock could be undervalued. Shorting out-of-the-money (OTM) puts and calls is an attractive play here.

CVX rose 2.35% to $196.83 after Chevron released its Q2 earnings before the market opened on Friday, July 31. Moreover, it's up +19% from a recent trough price of $165.69 on July 1.

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