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News

Smart Money Is Betting Big In CVX Options

Author: Benzinga Insights | April 08, 2024 03:15pm

Investors with a lot of money to spend have taken a bullish stance on Chevron (NYSE:CVX).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CVX, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 17 uncommon options trades for Chevron.

This isn't normal.

The overall sentiment of these big-money traders is split between 52% bullish and 47%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $324,060, and 12 are calls, for a total amount of $832,711.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $125.0 and $175.0 for Chevron, spanning the last three months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $125.0 to $175.0 in the last 30 days.

Chevron 30-Day Option Volume & Interest Snapshot

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
CVX CALL TRADE BULLISH 06/20/25 $14.95 $14.65 $14.95 $165.00 $152.4K 491 101
CVX CALL TRADE BULLISH 06/20/25 $14.95 $14.65 $14.95 $165.00 $149.5K 491 101
CVX CALL SWEEP BEARISH 09/20/24 $16.4 $16.25 $16.25 $150.00 $105.6K 1.3K 2
CVX PUT TRADE BEARISH 12/19/25 $9.25 $9.05 $9.25 $140.00 $102.6K 356 111
CVX CALL SWEEP BEARISH 06/21/24 $4.2 $4.15 $4.15 $165.00 $99.4K 15.3K 384

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.

Where Is Chevron Standing Right Now?

  • Trading volume stands at 3,264,838, with CVX's price down by -0.03%, positioned at $161.54.
  • RSI indicators show the stock to be may be overbought.
  • Earnings announcement expected in 18 days.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chevron with Benzinga Pro for real-time alerts.

Posted In: CVX

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