CVX options flow: unusual options activity in Chevron Corp.
Updated 28 September 2026, 09:54 ET
Over the last week the tape recorded 170 unusual options prints in Chevron Corp. (CVX), $10.2M of tracked premium, leaning bearish. Bullish premium was $3.6M against $5.4M bearish; $7.1M went into calls and $3.1M into puts, a put call ratio of 0.44. The largest print was $307K of CVX 19 Mar 2027 $210 calls on 21 September 2026, swept at ask. The last session with prints, 25 September 2026, added 23 prints and $1.2M of premium. CVX closed at $204.45 on 25 September 2026, down 0.6%.
This week's unusual flow
Prints from 21 September 2026 to 25 September 2026, 5 sessions. Delayed tier: every print is shown twenty minutes after it executed, and the page is rebuilt after each session.
Net premium is bullish minus bearish premium. The put call ratio is put premium divided by call premium, weighted by money rather than by contract count. Sweeps is the share of prints executed across several exchanges at once. Read the guide: Reading the Pulse.
Largest prints of the week
| Date | Contract | Type | Size | Open int. | Premium | Execution | Sentiment | Tier |
|---|---|---|---|---|---|---|---|---|
| 21 Sep 2026 | CVX 19 Mar 2027 $210 calls | Sweep | 209 | 2,010 | $307K | At ask | Bullish | High conviction |
| 24 Sep 2026 | CVX 21 Jan 2028 $190 calls | Sweep | 69 | 562 | $248K | At bid | Bearish | Notable |
| 22 Sep 2026 | CVX 15 Dec 2028 $110 calls | Sweep | 25 | 209 | $238K | At bid | Bearish | Notable |
| 22 Sep 2026 | CVX 18 Dec 2026 $230 calls | Sweep | 814 | 2,473 | $234K | At ask | Bullish | Notable |
| 23 Sep 2026 | CVX 15 Dec 2028 $250 calls | Sweep | 114 | 180 | $230K | At bid | Bearish | Notable |
| 21 Sep 2026 | CVX 16 Oct 2026 $200 puts | Sweep | 676 | 2,835 | $213K | At ask | Bearish | Notable |
| 22 Sep 2026 | CVX 15 Jan 2027 $175 calls | Sweep | 60 | 1,468 | $187K | At ask | Neutral | |
| 25 Sep 2026 | CVX 2 Oct 2026 $202.50 puts | Sweep | 1,255 | 512 | $179K | Above ask | Bearish | Whale |
| 22 Sep 2026 | CVX 20 Nov 2026 $210 calls | Sweep | 263 | 1,564 | $167K | At bid | Bearish | Notable |
| 22 Sep 2026 | CVX 21 Jan 2028 $200 calls | Sweep | 60 | 3,492 | $166K | At bid | Neutral | |
| 21 Sep 2026 | CVX 15 Jan 2027 $165 puts | Sweep | 1,194 | 1,666 | $165K | Below bid | Bullish | High conviction |
| 25 Sep 2026 | CVX 19 Mar 2027 $210 puts | Sweep | 86 | 870 | $155K | At ask | Neutral |
Size above open interest means the trade opened a position larger than everything that existed in the contract the night before. Above ask and below bid are the most aggressive executions. Read the guide: Size versus open interest.
Where the money is aimed
| Expiry | Prints | Premium | Calls share | Net premium |
|---|---|---|---|---|
| 15 Dec 2028 | 29 | $2.0M | 90% | -$867K |
| 21 Jan 2028 | 33 | $1.8M | 84% | +$16K |
| 19 Mar 2027 | 16 | $1.5M | 41% | +$317K |
| 16 Oct 2026 | 18 | $884K | 45% | -$466K |
| 18 Dec 2026 | 14 | $881K | 91% | +$78K |
| 15 Jan 2027 | 11 | $870K | 57% | +$91K |
The most premium, $2.0M, is aimed at the 15 Dec 2028 expiry; the nearest expiry with unusual prints is 16 Oct 2026.
A print in a contract expiring this week is a view about the next few days, often about a known event; a print months out is a different kind of statement. Read the guide: 0DTE options flow.
The last session, 25 September 2026
| Date | Contract | Type | Size | Open int. | Premium | Execution | Sentiment | Tier |
|---|---|---|---|---|---|---|---|---|
| 25 Sep 2026 | CVX 2 Oct 2026 $202.50 puts | Sweep | 1,255 | 512 | $179K | Above ask | Bearish | Whale |
| 25 Sep 2026 | CVX 19 Mar 2027 $210 puts | Sweep | 86 | 870 | $155K | At ask | Neutral | |
| 25 Sep 2026 | CVX 2 Oct 2026 $220 calls | Sweep | 10,000 | 898 | $114K | Above ask | Bullish | High conviction |
| 25 Sep 2026 | CVX 21 Jan 2028 $190 calls | Sweep | 23 | 615 | $78K | At bid | Bearish | Notable |
| 25 Sep 2026 | CVX 19 Mar 2027 $180 puts | Trade | 100 | 2,172 | $56K | At bid | Bullish |
Every print in CVX with its full detail, the live tape, one tap filters and saved screeners: open CVX in Options Sentiment Screener.
Price
The live quote and the price chart sit beside the ticker's flow in the app: open CVX in Options Sentiment Screener.
Analysts
The most recent analyst targets on file, from 16 firms, have a median of $220, 7.6% above the last close. The last 90 days brought 1 upgrade.
Calls bought at a strike above the average target are a bet that the analysts are too cautious; puts far below the price in a name they like are protection or a strong disagreement. Read the guide: Reading one ticker's flow.
About Chevron Corp.
- Exchange
- NYSE
- Sector
- Energy
- Industry
- Petroleum And Natural Gas
- Headquarters
- SAN RAMON, Texas
- Website
- chevron.com
Chevron Corporation engages in integrated energy and chemicals operations. The company operates in two segments, Upstream and Downstream. Chevron is involved in the exploration, development, production, and transportation of crude oil and natural gas. The Downstream segment engages in refining crude oil into petroleum products; marketing crude oil, refined products, and lubricants.
In the same sector
Flow pages for other Energy names in the S&P 500:
XOM ExxonMobil Holdings Corp.COP ConocoPhillipsVLO Valero Energy Corp.MPC Marathon Petroleum Corp.PSX Phillips 66WMB Williams Companies, Inc.SLB SLB LimitedEOG EOG Resources Inc.
Learn
- What unusual options activity means
- Reading one ticker's flow
- Sweeps, blocks and where a trade printed
- Size versus open interest
- Bullish or bearish, how a print's sentiment is inferred
- The conviction score and whale prints
The live tape for CVX with every print's execution detail, one tap filters for calls, puts, sweeps and 0DTE, saved screeners and, for Realtime subscribers, push alerts and no delay. The same screen is in the iOS and Android apps.
Open CVX in Options Sentiment Screener