Chevron (CVX) Offering Possible 23.15% Return Over the Next 16 Calendar Days

Chevron's most recent trend suggests a bearish bias. One trading opportunity on Chevron is a Bear Call Spread using a strike $75.00 short call and a strike $80.00 long call offers a potential 23.15% return on risk over the next 16 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $75.00 by expiration. The full premium credit of $0.94 would be kept by the premium seller. The risk of $4.06 would be incurred if the stock rose above the $80.00 long call strike price.

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

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

The RSI indicator is at 34.54 level which suggests that the stock is neither overbought nor oversold at this time.

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

Chevron Welcomes Familiar Face to Board
Tue, 08 Sep 2020 19:00:04 +0000
The former GOP presidential candidate and US ambassador will rejoin Chevron's board next week.

Elliott Discloses Stake in Takeover Target Noble Energy
Tue, 08 Sep 2020 17:01:02 +0000
(Bloomberg) — Activist investor Elliott Management Corp. has taken a stake in Noble Energy Inc., the energy explorer that agreed in July to sell to Chevron Corp. for about $5 billion.The stake was disclosed in a filing Tuesday with the U.S. Federal Trade Commission. Noble Energy and the New York-based hedge fund run by Paul Singer were granted early termination under the FTC’s Hart-Scott-Rodino Act — a requirement when an investor buys shares in a company above a certain threshold and seeks to hold discussions about such things as strategy or management changes.The size of the stake and Elliott’s intentions aren’t known. Representatives for Elliott and Noble Energy weren’t immediately available for comment.Chevron agreed to buy Noble Energy for the equivalent of roughly $10.38 a share at the time in the all-stock deal, a 7.5% premium over the last Friday’s close. Noble Energy investors are expected to vote on the deal Oct. 2.Noble fell nearly 2% in trading Tuesday to $9.52 a share as of 12:18 p.m. in New York.Elliott has a history of buying stakes in companies and pushing for changes, including breaking up potential transactions. It’s agitated at companies including AT&T Inc., Twitter Inc., and Softbank Group Corp., among others.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Dow Jones Dives 400 Points As Stock Market Rout Extends; Tesla Tanks
Tue, 08 Sep 2020 16:18:04 +0000
Stocks moved off session lows midday Tuesday, but the Dow Jones Industrial Average was still down about 400 points as a tech stock rout continued.

Dow's 430-point fall led by losses for shares of Boeing, Chevron
Tue, 08 Sep 2020 15:02:00 +0000
DOW UPDATE The Dow Jones Industrial Average is in a selloff Tuesday morning with shares of Boeing and Chevron seeing the biggest declines for the index. Shares of Boeing (BA) and Chevron (CVX) have contributed to the blue-chip gauge's intraday decline, as the Dow (DJIA) was most recently trading 430 points, or 1.

Oil Tumbles Below Critical $40 Level
Tue, 08 Sep 2020 14:43:00 +0000
For the past two months, both Brent and West Texas oil have mostly held above $40, allowing some producers to restart drilling projects. But the latest downturn threatens that progress.

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