Chevron (CVX) Offering Possible 59.24% Return Over the Next 27 Calendar Days

Chevron's most recent trend suggests a bearish bias. One trading opportunity on Chevron is a Bear Call Spread using a strike $102.00 short call and a strike $107.00 long call offers a potential 59.24% return on risk over the next 27 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $102.00 by expiration. The full premium credit of $1.86 would be kept by the premium seller. The risk of $3.14 would be incurred if the stock rose above the $107.00 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 33.33 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

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Fri, 23 Apr 2021 11:02:11 +0000
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TOTAL (TOT) to Report Q1 Earnings: What's in the Offing?
Fri, 23 Apr 2021 10:52:10 +0000
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5 Must-Buy Corporate Giants Ahead of Q1 Earnings Next Week
Fri, 23 Apr 2021 09:49:09 +0000
We have narrowed down our search to five corporate bigwigs slated to release first-quarter earnings results next week. These are: XOM, CVX, CAT, ICE and TXN.

PRESS DIGEST- New York Times business news – April 23
Fri, 23 Apr 2021 05:14:00 +0000
Federal health officials are leaning toward lifting their recommended pause on the use of Johnson & Johnson's coronavirus vaccine and are considering attaching a warning to the vaccine's label after finding only a limited number of additional cases of a rare blood clotting disorder among recipients. – Oil company Chevron Corp has dispatched lobbyists — including some former federal government officials, one of whom appears to have left the State Department just last month — to agencies including the State Department and key congressional offices to warn against any sanctions that might disrupt its operations in Myanmar, according to four people familiar with the lobbying. – The New York Times Company said that it would not voluntarily recognize a newly formed union of tech and digital employees, instructing the group to put the matter to a formal vote through the National Labor Relations Board.

UPDATE 1-Chevron lobbies U.S. officials on Myanmar as sanctions pressure rises
Thu, 22 Apr 2021 17:49:58 +0000
U.S. oil giant Chevron Corp lobbied lawmakers and government officials to protect its energy interests in Myanmar during the first quarter, as the administration of President Joe Biden comes under pressure to impose sanctions against the south Asian country’s military junta, according to federal disclosures. Chevron is among a handful of international oil and gas companies with big stakes in Myanmar’s energy riches, which have become a crucial source of revenue for military rulers who seized power in February and imposed a bloody crackdown on political protests. According to the lobbying disclosures, Chevron spent $2,170,000 on lobbying in the United States in the first three months of 2021.

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