Benzinga | Jan 31, 2022 01:31PM EST

What Are Whales Doing With Chevron

A whale with a lot of money to spend has taken a noticeably bullish stance on Chevron.

Looking at options history for Chevron (NYSE:CVX) we detected 25 strange trades.

If we consider the specifics of each trade, it is accurate to state that 52% of the investors opened trades with bullish expectations and 48% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $184,058 and 21, calls, for a total amount of $2,485,057.

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 $105.0 to $145.0 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 $105.0 to $145.0 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 TRADE BEARISH 01/20/ $135.00 $1.0M 2.0K 1.0K 23CVX CALL SWEEP BEARISH 06/17/ $120.00 $357.5K 6.4K 262 22CVX CALL TRADE BEARISH 03/18/ $115.00 $153.0K 2.6K 104 22CVX CALL SWEEP BULLISH 02/18/ $135.00 $125.0K 17.2K 1.0K 22CVX CALL SWEEP NEUTRAL 02/04/ $129.00 $120.7K 295 546 22

Where Is Chevron Standing Right Now?

* With a volume of 8,335,903, the price of CVX is up 0.84% at $131.71.

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

* Next earnings are expected to be released in 88 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.