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This Is What Whales Are Betting On Chevron

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Investors with a lot of money to spend have taken a bearish 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 14 uncommon options trades for Chevron.

This isn’t normal.

The overall sentiment of these big-money traders is split between 35% bullish and 50%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $161,679, and 10 are calls, for a total amount of $474,280.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $90.0 and $170.0 for Chevron, spanning the last three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Chevron’s options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Chevron’s substantial trades, within a strike price spectrum from $90.0 to $170.0 over the preceding 30 days.

Chevron Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
CVX CALL TRADE BULLISH 05/17/24 $2.78 $2.62 $2.78 $160.00 $83.1K 13.2K 1.0K
CVX CALL TRADE NEUTRAL 09/20/24 $7.5 $7.4 $7.45 $160.00 $74.5K 1.5K 9
CVX PUT SWEEP BEARISH 03/21/25 $8.4 $8.3 $8.41 $155.00 $63.0K 473 286
CVX CALL SWEEP BULLISH 05/17/24 $0.5 $0.49 $0.5 $162.50 $58.2K 1.8K 1.3K
CVX CALL SWEEP BEARISH 09/20/24 $7.8 $7.65 $7.7 $160.00 $57.7K 1.5K 143

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…

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