Chevron Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been detected for Chevron (NYSE:CVX), with a bearish stance being taken by a majority of investors. Of the 25 strange trades detected, 56% were bearish and 44% bullish. The total amount for puts was $805,648 and for calls was $873,540. Whales have been targeting a price range from $120.0 to $175.0 for Chevron over the last 3 months. The current price of CVX is down -2.59% at $152.26. Piper Sandler maintains an Overweight rating on Chevron with a price target of $188.
July 06, 2023 | 6:01 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Unusual options activity detected for Chevron. Majority of the trades were bearish. Whales targeting a price range from $120 to $175.
The unusual options activity, with a majority being bearish, indicates a potential downward pressure on Chevron's stock price in the short term. The whales targeting a price range from $120 to $175 also suggests a potential decrease in the stock price. However, Piper Sandler maintains an Overweight rating on Chevron with a price target of $188, which could potentially counteract some of the bearish sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100