Chevron Unusual Options Activity For July 11
Portfolio Pulse from Benzinga Insights
Unusual options activity has been observed for Chevron (NYSE:CVX), with a bearish stance taken by a large investor. Benzinga's options scanner spotted 10 options trades for Chevron, with 70% bearish sentiment. The price range targeted by these investors for Chevron over the last 3 months is from $110.0 to $170.0. The price of CVX is currently up 1.53% at $157.62. Analysts from Mizuho, Piper Sandler, and Citigroup have maintained their Neutral and Overweight ratings on Chevron, with price targets of $205, $188, and $170 respectively.
July 11, 2023 | 6:17 pm
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Unusual options activity observed for Chevron (NYSE:CVX) with a bearish stance taken by a large investor. The price of CVX is currently up 1.53% at $157.62. Analysts maintain their ratings with price targets ranging from $170 to $205.
The unusual options activity, with a predominantly bearish sentiment, indicates that large investors are expecting a potential drop in Chevron's stock price. This could put downward pressure on the stock in the short term. However, analysts from Mizuho, Piper Sandler, and Citigroup have maintained their ratings on Chevron, indicating a longer-term confidence in the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100