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 32 strange trades.
If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 68% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $385,951 and 22, calls, for a total amount of $1,526,401.
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 $115.0 to $180.0 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 $115.0 to $180.0 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 | 04/14/22 | $140.00 | $240.0K | 2.9K | 107 |
| CVX | CALL | SWEEP | BEARISH | 06/17/22 | $125.00 | $138.7K | 2.8K | 36 |
| CVX | CALL | TRADE | BEARISH | 01/20/23 | $170.00 | $128.5K | 2.7K | 226 |
| CVX | CALL | TRADE | BEARISH | 01/20/23 | $170.00 | $128.5K | 2.7K | 126 |
| CVX | CALL | TRADE | BULLISH | 01/19/24 | $115.00 | $125.3K | 438 | 23 |
Where Is Chevron Standing Right Now?
- With a volume of 4,280,266, the price of CVX is down -0.63% at $163.19.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 25 days.
What The Experts Say On Chevron:
- Wells Fargo has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $184.
- Morgan Stanley downgraded its action to Equal-Weight with a price target of $166
- JP Morgan downgraded its action to Underweight with a price target of $169
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.
