A whale with a lot of money to spend has taken a noticeably bullish stance on Chevron.
Looking at options history for Chevron (NYSE:CVX) we detected 21 strange trades.
If we consider the specifics of each trade, it is accurate to state that 52% of the investors opened trades with bullish expectations and 47% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $419,350 and 15, calls, for a total amount of $725,764.
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 $150.0 to $240.0 for Chevron over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $150.0 to $240.0 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 | PUT | SWEEP | BULLISH | 11/18/22 | $175.00 | $145.0K | 1.6K | 558 |
| CVX | CALL | SWEEP | BEARISH | 01/19/24 | $160.00 | $117.1K | 1.6K | 29 |
| CVX | PUT | TRADE | NEUTRAL | 01/20/23 | $180.00 | $94.4K | 1.1K | 194 |
| CVX | PUT | TRADE | NEUTRAL | 12/16/22 | $200.00 | $82.4K | 72 | 50 |
| CVX | CALL | SWEEP | BULLISH | 12/16/22 | $150.00 | $69.4K | 847 | 21 |
Where Is Chevron Standing Right Now?
- With a volume of 2,982,668, the price of CVX is up 1.86% at $183.32.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 88 days.
What The Experts Say On Chevron:
- Raymond James has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $188.
- Raymond James has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $215.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Chevron, which currently sits at a price target of $196.
- Cowen & Co. has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $185.
- HSBC downgraded its action to Hold with a price target of $177
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.
