Chevron Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Chevron (NYSE:CVX) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 45% bullish and 54% bearish. The whales have been targeting a price range from $120.0 to $190.0 for Chevron over the last 3 months. The price of CVX is currently down -1.09% at $158.16. Analysts from Morgan Stanley, Goldman Sachs, UBS, and Mizuho have maintained their ratings on Chevron, with price targets ranging from $187 to $205.
August 08, 2023 | 4:00 pm
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NEGATIVE IMPACT
Unusual options activity indicates a significant bearish stance on Chevron. The sentiment among big-money traders is split, with 54% bearish. Analysts maintain their ratings, with price targets from $187 to $205.
The unusual options activity, with a significant bearish stance, indicates that large investors are expecting a potential drop in Chevron's stock price. This, combined with the current price of CVX being down, suggests a negative short-term impact. However, the maintained ratings and price targets from analysts indicate a positive outlook in the longer term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100