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 41 strange trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 63% with bearish.
From the overall spotted trades, 15 are puts, for a total amount of $1,093,877 and 26, calls, for a total amount of $2,213,247.
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 $100.0 to $240.0 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 2432.44 with a total volume of 8,391.00.
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 $100.0 to $240.0 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 | TRADE | BULLISH | 01/20/23 | $125.00 | $461.5K | 8.3K | 2 |
| CVX | CALL | TRADE | BEARISH | 01/20/23 | $190.00 | $285.0K | 1.0K | 254 |
| CVX | CALL | TRADE | BULLISH | 01/20/23 | $135.00 | $191.7K | 2.6K | 50 |
| CVX | PUT | TRADE | BEARISH | 01/20/23 | $145.00 | $177.5K | 1.7K | 6 |
| CVX | PUT | TRADE | BULLISH | 01/20/23 | $130.00 | $148.7K | 2.6K | 252 |
Where Is Chevron Standing Right Now?
- With a volume of 6,533,604, the price of CVX is up 1.55% at $168.84.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 84 days.
What The Experts Say On Chevron:
- RBC Capital downgraded its action to Sector Perform with a price target of $165
- Credit Suisse has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $190.
- Morgan Stanley has decided to maintain their Equal-Weight 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 $191.
- Wells Fargo has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $181.
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.
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