Chevron Corporation is a global energy company that provides administrative, financial, and technology support for its operations. It operates through two main segments: Upstream, which handles oil and gas exploration and production, and Downstream, which focuses on refining, marketing, and transporting petroleum products and chemicals. Founded in 1879, Chevron is headquartered in Houston, Texas.
What we are looking for: CVX appears to be showing potential amid the current volatility in the oil markets, caused by geopolitical tensions in Iran and Israel. While uncertainty remains, I believe it might be worth looking into potentially adding some long positions in the energy sector.
If CVX pulls back to its 20-day moving average around $142.16, I would consider a call calendar spread that targets the $150 strike—slightly above this support level. Although Chevron hasn’t broken past recent highs yet, I believe this setup could offer a favorable opportunity to potentially capitalize on any upward momentum in the near term.