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Chevron Whale Trades Spotted

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

Looking at options history for Chevron CVX we detected 12 strange trades.

If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $160,560 and 7, calls, for a total amount of $442,175.

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 $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 1479.14 with a total volume of 9,611.00.

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 $150.0 to $180.0 over 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 SWEEP BULLISH 06/16/23 $170.00 $113.3K 110 159
CVX CALL TRADE BEARISH 08/19/22 $160.00 $108.7K 2.8K 604
CVX CALL SWEEP BEARISH 08/19/22 $160.00 $56.0K 2.8K 684
CVX CALL SWEEP BULLISH 06/24/22 $155.00 $49.6K 712 2.3K
CVX CALL TRADE NEUTRAL 08/19/22 $160.00 $38.5K 2.8K 734
Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CVX CALL SWEEP BULLISH 06/16/23 $170.00 $113.3K 110 159
CVX CALL TRADE BEARISH 08/19/22 $160.00 $108.7K 2.8K 604
CVX CALL SWEEP BEARISH 08/19/22 $160.00 $56.0K 2.8K 684
CVX CALL SWEEP BULLISH 06/24/22 $155.00 $49.6K 712 2.3K
CVX CALL TRADE NEUTRAL 08/19/22 $160.00 $38.5K 2.8K 734

Where Is Chevron Standing Right Now?

  • With a volume of 8,388,758, the price of CVX is up 4.72% at $155.38.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 38 days.

What The Experts Say On Chevron:

  • Barclays has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $196.
  • Credit Suisse has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $202.
  • Barclays has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $196.
  • Goldman Sachs has decided to maintain their Neutral rating on Chevron, which currently sits at a price target of $181.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Chevron, which currently sits at a price target of $185.

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.

This post was originally published on this site

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