What the Options Market Tells Us About Chevron
Portfolio Pulse from Benzinga Insights
Recent options market activity indicates a bearish sentiment towards Chevron (NYSE:CVX), with a significant majority of trades being bearish. Analysis of 14 trades shows a preference for puts over calls, with a total put value of $255,073 compared to calls valued at $328,228. The targeted price range for CVX is between $145.0 and $170.0. Current trading volume and RSI readings suggest Chevron may be approaching overbought territory, with its stock price recently up by 1.77% at $160.36. Chevron's anticipated earnings release is in 7 days, adding to the investor focus.
April 19, 2024 | 6:01 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Chevron's options market activity is predominantly bearish, with a focus on puts. The stock is currently up, trading at $160.36, but with an earnings release imminent, volatility may increase.
The bearish sentiment in the options market, combined with the upcoming earnings release, suggests potential short-term downside for CVX. The high relevance and importance scores reflect CVX's direct mention and the detailed analysis of its options market activity. The confidence score is based on the clear bearish sentiment and the imminent earnings release, which typically increases stock volatility.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100