Trade Ideas
UOA PRO New Trade Idea CVX 8-7
10,000 14August 200 calls bought in one order for 0.16-0.17 above open interest of 890 contracts. Stock 186.95-186.98.
New Trade Idea
Ticker: CVX
Stock: 187.24
Trigger: 189.24
Targets/Resistance: 190.51, 191.20, 192.98, 194.79, 197.02
Expiration Date: 21AUG
UOA: 10,000 14August 200 calls bought in one order for 0.16-0.17 above open interest of 890 contracts. Stock 186.95-186.98.
CVX $187.34 Last.
Large week out OTM call buy of $ cheaps. Stock is NOT typically a Big Mover. Charts are OK on balance but it needs to pull out of the recent pullback and start going to preserve the overall bullish appearance. GEPOL news could clearly shift this quickly in either direction but prepping along with ostensible bias of the UOA.
Trigger: $189.24.
Strategy 1: Consider the CVX 21Aug. 190.00 calls for $3.20 projected at trigger level today.
Targets: 190.51, 191.20 (15 SMA currently), 192.98, 194.79, 197.02