Benzinga | Jan 26, 2022 10:54AM EST

What Are Whales Doing With Chevron

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 19 uncommon options trades for Chevron.

This isn't normal.

The overall sentiment of these big-money traders is split between 68% bullish and 31%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $113,050, and 16 are calls, for a total amount of $759,174.

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 $75.0 to $150.0 for Chevron over the last 3 months.

Volume & Open Interest Development

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 $75.0 to $150.0 in the last 30 days.

Chevron Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestCVX CALL SWEEP BULLISH 01/20/ $125.00 $119.1K 8.1K 123 23CVX CALL TRADE BEARISH 01/20/ $140.00 $98.5K 3.5K 124 23CVX CALL TRADE BULLISH 03/18/ $130.00 $70.2K 5.7K 397 22CVX PUT TRADE NEUTRAL 01/20/ $150.00 $53.6K 138 20 23CVX CALL SWEEP BULLISH 02/18/ $135.00 $46.5K 16.0K 1.1K 22

Where Is Chevron Standing Right Now?

* With a volume of 2,948,932, the price of CVX is up 0.55% at $133.31.

* RSI indicators hint that the underlying stock may be overbought.

* Next earnings are expected to be released in 2 days.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.