Chevron (CVX) Offering Possible 21.36% Return Over the Next 17 Calendar Days

Chevron's most recent trend suggests a bullish bias. One trading opportunity on Chevron is a Bull Put Spread using a strike $121.00 short put and a strike $116.00 long put offers a potential 21.36% return on risk over the next 17 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $121.00 by expiration. The full premium credit of $0.88 would be kept by the premium seller. The risk of $4.12 would be incurred if the stock dropped below the $116.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Chevron is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Chevron is bullish.

The RSI indicator is above 80 which suggests that the stock is in overbought territory.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here


LATEST NEWS for Chevron

[$$] Petrobras, Exxon, Shell, Chevron Among Winners of Brazilian Oil Auction
Fri, 28 Sep 2018 15:26:03 +0000
Bids were made by offering a percentage of profit oil, which is the proportion of gains from the fields that will go to the government. Energy companies were eager to bid in Brazil’s last oilfield auction ahead of presidential elections in October because it’s unclear when, and under what terms, the next government might sell more blocs in the pre-salt area, according to Adriano Pires, director of Rio-based think tank Brazilian Infrastructure Center.

Shell, Chevron bet big in last Brazil oil auction before elections
Fri, 28 Sep 2018 14:55:41 +0000
Royal Dutch Shell Plc and Chevron Corp on Friday led big bets by oil majors seeking to clinch key stakes in Brazil's coveted offshore oil play, shrugging off concerns over presidential elections that have shed uncertainty over the industry. Shell and Chevron pledged to the government a high 70.2 percent of the oil it produces after costs to clinch the choice Saturno block, while Exxon Mobil Corp and Qatar Petroleum International landed the Tita area with a 24.5 percent offer, with both groups locking in key real estate in the prized Santos basin.

Dow 30 Stock Roundup: NIKE's Earnings Impress, Boeing Clinches $376M MH-139 Deal
Fri, 28 Sep 2018 13:48:01 +0000
The Dow suffered a tough week, weighed down by trade tensions and the Fed's third rate hike for the year.

Nigerian Oil Union Sees Chevron Job Dispute Ending in a Week
Fri, 28 Sep 2018 13:04:45 +0000
Talks between a Nigerian oil labor union and Chevron Corp. over the U.S. energy giant’s plan to fire thousands of workers ended Friday with the prospect of a resolution in sight, the union said. Chevron has said it plans to end current job contracts and replace them with new ones in November. Union leaders are in talks with company representatives at a meeting mediated by the labor ministry, Obi said.

Citi: Emerging Market Might Alarm Oil’s Demand Growth
Fri, 28 Sep 2018 12:18:02 +0000
Edward Morse, Citi Research’s global head of commodities, said that oil’s demand growth could decrease by 100,000 barrels per day in 2019, according to a Reuters report. Falling emerging market currencies and soaring oil prices could be behind the lower demand. The WisdomTree Emerging Currency Strategy ETF (CEW) has fallen 6.2% in 2018. US crude oil prices have risen 19.4% during this period. The following graph shows the divergence in oil and emerging market currencies.

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