A whale with a lot of money to spend has taken a noticeably bullish stance on Cenovus Energy.
Looking at options history for Cenovus Energy (NYSE:CVE) we detected 20 strange trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $122,825 and 17, calls, for a total amount of $789,829.
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 $15.0 to $30.0 for Cenovus Energy over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Cenovus Energy options trades today is 2571.67 with a total volume of 8,556.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Cenovus Energy's big money trades within a strike price range of $15.0 to $30.0 over the last 30 days.
Cenovus Energy 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 |
|---|---|---|---|---|---|---|---|---|
| CVE | CALL | SWEEP | BULLISH | 09/16/22 | $20.00 | $97.6K | 6.2K | 235 |
| CVE | CALL | SWEEP | BULLISH | 07/15/22 | $25.00 | $74.9K | 327 | 1.4K |
| CVE | CALL | SWEEP | BEARISH | 12/16/22 | $25.00 | $59.0K | 3.1K | 200 |
| CVE | CALL | TRADE | BULLISH | 01/19/24 | $20.00 | $55.3K | 3.3K | 70 |
| CVE | CALL | TRADE | BULLISH | 07/15/22 | $23.00 | $51.2K | 824 | 984 |
Where Is Cenovus Energy Standing Right Now?
- With a volume of 6,410,933, the price of CVE is up 2.2% at $23.68.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 57 days.
What The Experts Say On Cenovus Energy:
- Goldman Sachs has decided to maintain their Buy rating on Cenovus Energy, which currently sits at a price target of $24.
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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