Smart Money Is Betting Big In CVX Options - Chevron (NYSE:CVX)

Core Insights - Investors with significant capital have adopted a bearish outlook on Chevron (NYSE:CVX), indicating potential insider knowledge of upcoming events [1] - The sentiment among large traders is predominantly bearish, with 67% taking bearish positions compared to 19% bullish [2] Options Activity - A total of 31 uncommon options trades for Chevron were identified, with 14 puts amounting to $983,891 and 17 calls totaling $854,455 [2] - The price range targeted by large investors for Chevron over the last three months is between $150.0 and $210.0 [3] Volume and Open Interest - The mean open interest for Chevron options trades is 2004.62, with a total volume of 4,163.00 [4] - A detailed overview of significant options trades shows a mix of bullish and bearish sentiments, with notable trades including puts and calls at various strike prices [7] Company Overview - Chevron is the second-largest oil company in the U.S., producing 3.0 million barrels of oil equivalent per day, including 7.7 million cubic feet of natural gas and 1.7 million barrels of liquids [8] - Proven reserves at the end of 2024 are estimated at 9.8 billion barrels of oil equivalent, comprising 5.1 billion barrels of liquids and 28.4 trillion cubic feet of natural gas [8] Market Status - The current trading volume for Chevron is 3,163,218, with the stock price at $167.28, reflecting a 0.37% increase [11] - Analysts have set an average target price of $173.6, with varying ratings and price targets from different firms, including a downward revision to Overweight by JP Morgan [10][11][12]