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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 11 uncommon options trades for Chevron.
This isn't normal.
The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $353,558, and 7 are calls, for a total amount of $272,461.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $110.0 to $175.0 for Chevron during the past quarter.
In terms of liquidity and interest, the mean open interest for Chevron options trades today is 2640.1 with a total volume of 2,820.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Chevron's big money trades within a strike price range of $110.0 to $175.0 over the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CVX | PUT | TRADE | BULLISH | 01/16/26 | $7.1 | $7.0 | $7.0 | $155.00 | $132.3K | 2.8K | 201 |
| CVX | PUT | TRADE | BULLISH | 01/21/28 | $8.0 | $6.4 | $6.6 | $110.00 | $99.0K | 263 | 150 |
| CVX | PUT | SWEEP | BULLISH | 12/19/25 | $3.55 | $3.4 | $3.43 | $150.00 | $96.3K | 4.2K | 209 |
| CVX | CALL | SWEEP | BEARISH | 03/20/26 | $1.87 | $1.86 | $1.86 | $175.00 | $55.6K | 1.9K | 306 |
| CVX | CALL | TRADE | BEARISH | 01/16/26 | $5.2 | $5.15 | $5.15 | $155.00 | $53.5K | 5.0K | 332 |
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 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 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 2024 stood at 9.8 billion barrels of oil equivalent, including 5.1 billion barrels of liquids and 28.4 trillion cubic feet of natural gas.
Having examined the options trading patterns of Chevron, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $170.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Reflecting concerns, an analyst from Wells Fargo lowers its rating to Overweight with a new price target of $190. * Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Chevron with a target price of $158. * In a cautious move, an analyst from Raymond James downgraded its rating to Outperform, setting a price target of $160. * Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Perform rating for Chevron, targeting a price of $165. * An analyst from Morgan Stanley persists with their Overweight rating on Chevron, maintaining a target price of $177.
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 Chevron, Benzinga Pro gives you real-time options trades alerts.
Posted In: CVX
