Chevron (CVX) Offering Possible 15.74% Return Over the Next 6 Calendar Days

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Chevron’s most recent trend suggests a bullish bias. One trading opportunity on Chevron is a Bull Put Spread using a strike $125.00 short put and a strike $120.00 long put offers a potential 15.74% return on risk over the next 6 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $125.00 by expiration. The full premium credit of $0.68 would be kept by the premium seller. The risk of $4.32 would be incurred if the stock dropped below the $120.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Chevron is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Chevron is bullish.

The RSI indicator is above 80 which suggests that the stock is in overbought territory.

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