4 Trade Ideas for Chevron: Bonus Idea

• Posted by Greg Harmon
• on June 23rd, 2025

Here is your Bonus Idea with links to the full Top Ten:

Chevron, $CVX, comes into the week at the 200 day SMA and short term resistance. This is after a move up from the 38.2% retracement of the move from the COVID low to the 2022 high. It has a RSI rising in the bullish zone with the MACD positive and moving higher. There is resistance at 150 and 152 then 156 and 161.25 before 163 and a gap to fill to 166 then 169. Support lower is at 147 and 142.75. Short interest is moderate at 3.6%. The stock pays a dividend with an annual yield of 4.57% and has traded ex-dividend since May 19th.

The company is expected to report earnings next on July 31st. The July options chain shows biggest open interest at the 145 and 140 put strikes and on the call side at the 105 then 155 strikes. In the August chain open interest builds from the 150 put strike to a peak at 135 then fades to 115. On the call side it is biggest at 150 then 170. Finally, in the September chain there is large open interest from 155 to 105 on the put side, biggest at 110 then 115 and 155. On the call side it is biggest by far at 155.

Chevron, Ticker: $CVX

Trade Idea 1: Buy the stock on a move over 150 with a stop at 145.

Trade Idea 2: Buy the stock on a move over 150 and add a July 145/140 Put Spread ($1.27) while selling the July 160 Call (91 cents).

Trade Idea 3: Buy the July/August 155 Call Calendar ($2.26) while selling the July 145 Puts ($2.00).

Trade Idea 4: Buy the September 140/150/160 Call Spread Risk Reversal (5 cents).

Premium Content

The Best

The Rest Premium

Free Content

The Rest

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above.   

After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the FOMC meeting in the books, equity markets showed some profit taking and a drift slightly lower.

Elsewhere look for Gold to continue its uptrend while Crude Oil joins it with a short term trend higher. The US Dollar Index continues a short term move to the downside at 3 year lows while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue in consolidation while Emerging Markets may be stalled in their break to the upside.

The Volatility Index looks to continue in the normal range making life easier for equity markets to the upside. Their charts show short term strength on the longer timeframe with possible digestion in the shorter timeframes. The IWM continues to lag the SPY and QQQ in recovery in price. The classic “V” recovery continues to build in all 3 Index ETFs as the SPY and QQQ hold just shy of their all-time highs but with possible short term pauses. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus