Chevron (CVX) Offering Possible 29.53% Return Over the Next 15 Calendar Days

Chevron's most recent trend suggests a bearish bias. One trading opportunity on Chevron is a Bear Call Spread using a strike $88.00 short call and a strike $93.00 long call offers a potential 29.53% return on risk over the next 15 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $88.00 by expiration. The full premium credit of $1.14 would be kept by the premium seller. The risk of $3.86 would be incurred if the stock rose above the $93.00 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 36.17 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

Exxon Reinforces Dividend With New Cuts, Slower Permian Ramp; CEO Mum On Chevron Merger
Tue, 02 Feb 2021 21:34:51 +0000
Exxon Mobil beat earnings views Tuesday and sought to further reinforce its dividend with more cost cuts.

Why Oil Stocks Are Trading Higher Today
Tue, 02 Feb 2021 17:47:44 +0000
The shares of several oil companies are trading higher on Tuesday in sympathy with crude oil prices. The price of WTI crude surged to $55 per barrel for the first time since January 2020. Apache Corporation (NASDAQ: APA) based in Houston, is one of the largest independent exploration and production companies in the world. It operates primarily in the U.S., Egypt, the North Sea, and Suriname. Apache Corporation shares were trading up 5.19% at $15.90. The stock has a 52-week high of $29.44 and a 52-week low of $3.80. Chevron (NYSE: CVX) is the second-largest oil company in the United States, with the production of 3.2 million barrels of oil equivalent a day, including 7.6 million cubic feet a day of natural gas 2 million barrels of liquids a day. Chevron shares were trading up 1.41% at $87.64. The stock has a 52-week high of $112.60 and a 52-week low of $51.60. Exxon Mobil Corporation (NYSE: XOM) is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2019, it produced 2.4 million barrels of liquids and 9.4 billion cubic feet of natural gas per day. Exxon Mobil shares were trading up 2.94% at $46.24. The stock has a 52-week high of $63.01 and a 52-week low of $30.11. See more from BenzingaClick here for options trades from BenzingaWhy BP's Stock Is Trading Lower TodayWhy Harley-Davidson's Stock Is Trading Lower Today© 2021 Benzinga does not provide investment advice. All rights reserved.

Exxon’s Earnings Were Messy, but There’s Good Dividend News
Tue, 02 Feb 2021 14:57:00 +0000
In addition to posting hopeful guidance for 2021, Exxon Mobil is adding a new independent director to the board.

Why an Exxon and Chevron Merger Seems Like a Stretch
Tue, 02 Feb 2021 12:50:00 +0000
The logic behind a tie-up of Exxon Mobil and Chevron, the two biggest U.S oil companies, doesn’t seem to work right now, and may not make sense at all during the current oil cycle.

Oil & Gas Stock Roundup: Chevron, Phillips 66 Q4 Earnings, News From Linde & Shell
Tue, 02 Feb 2021 12:11:12 +0000
Energy companies Chevron (CVX), Phillips 66 (PSX) and Valero Energy (VLO) reported December-quarter earnings.

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