What the Options Market Tells Us About Chevron
Portfolio Pulse from Benzinga Insights
Financial analysis of Chevron's (NYSE:CVX) options market reveals a bearish sentiment among traders, with 57% showing bearish tendencies. The analysis predicts a price range of $130.0 to $170.0 for Chevron, based on unusual trade activity and options volume and interest. Noteworthy options activity includes both bearish and bullish trades with expiration dates ranging from April 2024 to July 2024. Chevron, a major integrated energy company, has seen its stock price decrease by -0.6%, with a current price of $153.53. Industry analysts have set an average target price of $175.0, with opinions varying from Outperform to Hold.
February 27, 2024 | 6:00 pm
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Chevron's options market analysis indicates a bearish sentiment among traders, despite a slight stock price decrease and mixed analyst ratings. The predicted price range is $130-$170.
The bearish sentiment in the options market, combined with the current stock price decrease and the mixed analyst ratings, suggests a potential short-term negative impact on CVX stock. The detailed options activity and the analysts' target prices provide a comprehensive view of the market's expectations, influencing investor sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100