A whale with a lot of money to spend has taken a noticeably bearish stance on Chevron.
Looking at options history for Chevron (NYSE:CVX) we detected 16 strange trades.
If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish expectations and 56% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $201,152 and 9, calls, for a total amount of $410,602.
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 $105.0 to $155.0 for Chevron 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 Chevron'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 Chevron's whale trades within a strike price range from $105.0 to $155.0 in 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 | CALL | TRADE | BULLISH | 07/22/22 | $119.00 | $88.3K | 42 | 39 |
| CVX | CALL | SWEEP | BULLISH | 12/16/22 | $155.00 | $62.2K | 907 | 112 |
| CVX | CALL | SWEEP | BEARISH | 08/19/22 | $145.00 | $50.4K | 2.2K | 114 |
| CVX | CALL | SWEEP | BULLISH | 09/16/22 | $145.00 | $44.2K | 1.0K | 183 |
| CVX | CALL | SWEEP | BULLISH | 07/22/22 | $138.00 | $39.6K | 249 | 108 |
Where Is Chevron Standing Right Now?
- With a volume of 9,130,014, the price of CVX is up 3.64% at $144.66.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 10 days.
What The Experts Say On Chevron:
- Truist Securities has decided to maintain their Hold rating on Chevron, which currently sits at a price target of $170.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Chevron, which currently sits at a price target of $190.
- Cowen & Co. has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $160.
- B of A Securities has decided to maintain their Buy rating on Chevron, which currently sits at a price target of $178.
- Piper Sandler has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $189.
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.
