Deep-pocketed investors have adopted a bearish approach towards Chevron (NYSE:CVX), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CVX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Chevron. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 38% bearish. Among these notable options, 6 are puts, totaling $645,689, and 7 are calls, amounting to $255,102.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $120.0 and $175.0 for Chevron, spanning the last three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Chevron options trades today is 1939.58 with a total volume of 888.00.
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 $120.0 to $175.0 over the last 30 days.
Chevron Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | PUT | TRADE | BEARISH | 01/17/25 | $1.62 | $1.51 | $1.61 | $125.00 | $161.0K | 13.7K | 0 |
| CVX | PUT | TRADE | BULLISH | 06/20/25 | $3.4 | $2.8 | $2.92 | $120.00 | $146.0K | 932 | 0 |
| CVX | PUT | TRADE | BULLISH | 06/20/25 | $11.15 | $10.9 | $11.0 | $150.00 | $110.0K | 916 | 209 |
| CVX | PUT | TRADE | NEUTRAL | 06/21/24 | $12.6 | $12.35 | $12.49 | $165.00 | $99.9K | 166 | 295 |
| CVX | PUT | SWEEP | BEARISH | 08/16/24 | $3.35 | $3.3 | $3.35 | $150.00 | $82.7K | 998 | 9 |
About Chevron
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2023 stood at 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.
Following our analysis of the options activities associated with Chevron, we pivot to a closer look at the company's own performance.
Chevron's Current Market Status
- Currently trading with a volume of 5,077,001, the CVX's price is down by -0.15%, now at $152.61.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 42 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Chevron options trades with real-time alerts from Benzinga Pro.