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Check Out What Whales Are Doing With CVX

By Benzinga Insights

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

And retail traders should know.

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

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 32 uncommon options trades for Chevron.

This isn't normal.

The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $722,924, and 24 are calls, for a total amount of $1,597,192.

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 $80.0 to $175.0 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 $80.0 to $175.0 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 01/20/23 $115.00 $440.3K 4.5K 85
CVX PUT TRADE BEARISH 01/20/23 $130.00 $305.0K 3.6K 500
CVX CALL TRADE BULLISH 01/20/23 $85.00 $165.0K 585 20
CVX PUT SWEEP BEARISH 01/20/23 $135.00 $108.7K 2.0K 160
CVX CALL TRADE BULLISH 07/15/22 $175.00 $97.4K 3.8K 175

Where Is Chevron Standing Right Now?

  • With a volume of 3,334,232, the price of CVX is up 1.92% at $167.88.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 77 days.

What The Experts Say On Chevron:

  • 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.
  • Raymond James has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $181.
  • RBC Capital downgraded its action to Sector Perform with a price target of $165

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.

If you want to stay updated on the latest options trades for {d[company_name]}, Benzinga Progives you real-time options trades alerts.

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