Looking At Chevron's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Chevron (NYSE:CVX) has seen unusual options activity, with a mix of bullish and bearish trades. Analysis of 21 trades shows a slight bullish bias. Major market movers are targeting a price range of $100.0 to $185.0 for Chevron over the last three months. The most significant options trades include both puts and calls, with varying sentiments and strike prices. Chevron's current market status shows a slight increase in stock price to $166.42, with potential overbought conditions. Earnings are expected in 88 days.
April 29, 2024 | 6:16 pm
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Chevron has experienced unusual options activity indicating a bullish sentiment among traders, with a focus on a price range of $100 to $185. The stock price has slightly increased to $166.42, and it may be approaching overbought territory.
The unusual options activity, with a higher number of bullish trades, suggests optimism among traders about Chevron's future price movement. The current slight increase in stock price and the anticipation of earnings in 88 days could contribute to short-term price volatility. However, the potential overbought condition indicated by RSI metrics may temper short-term gains.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100