Chevron (CVX) Offering Possible 20.77% Return Over the Next 28 Calendar Days

Chevron’s most recent trend suggests a bearish bias. One trading opportunity on Chevron is a Bear Call Spread using a strike $101.00 short call and a strike $106.00 long call offers a potential 20.77% return on risk over the next 28 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $101.00 by expiration. The full premium credit of $0.86 would be kept by the premium seller. The risk of $4.14 would be incurred if the stock rose above the $106.00 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 37.01 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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The Dow Jones Industrial Average (DJINDICES: ^DJI) is back on a winning streak, marking its second day of gains with a 270 point move higher at 3:39 p.m. EDT on July 21. Today’s biggest gainer is oil and gas giant Chevron (NYSE: CVX), up 4% on a big surge in oil prices. The biggest Dow news today is earnings from Coca-Cola (NYSE: KO), Johnson & Johnson (NYSE: JNJ), and Verizon Communications (NYSE: VZ), all of which reported their latest quarterly results before market open today.

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Tue, 20 Jul 2021 21:45:09 +0000
In the latest trading session, Chevron (CVX) closed at $96.53, marking a +0.59% move from the previous day.

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