Chevron Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Chevron (NYSE:CVX) has seen significant options trading activity, with a bullish sentiment from the majority of investors. Analysis of 18 trades shows 55% bullish and 44% bearish expectations. The trades include 6 puts and 12 calls, aiming for a price range of $130.0 to $185.0. Chevron, a major integrated energy company, has a current stock price of $158.0, with an upcoming earnings announcement in 25 days. The trading volume and RSI indicators suggest the stock may be overbought.
April 01, 2024 | 8:15 pm
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Chevron has witnessed a bullish trend in options trading, with a focus on a price range of $130 to $185. The company's stock is currently at $158, potentially overbought according to RSI indicators, with earnings expected soon.
The bullish sentiment in options trading, combined with the current stock price and the anticipation of the upcoming earnings announcement, suggests a positive short-term impact on CVX's stock price. However, the mention of the stock potentially being overbought could temper gains.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100