If you haven`t bought CVX here: or sold it before the previous earnings:
Then analyzing the options chain and the chart patterns of CVX Chevron Corporation prior to the earnings report this week, I would consider purchasing the 157.50usd strike price Puts with an expiration date of 2023-11-17, for a premium of approximately $3.42. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Trade closed: target reached
CVX traded at $143.96 after earnings, and the Puts went up from $3.42 (when I wrote this article) to $14.90 at the close today (a lot higher intraday), for a fantastic 4.35X gain!
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