The oil name saw quarterly profits nearly quadruple to their highest level in 10 years
Chevron Corporation (NYSE:CVX) is down 0.9% to trade at $160.40 at last check, brushing off a first-quarter earnings and revenue win. The oil name's quarterly profits nearly quadrupled to their highest level in 10 years, as oil and gas prices jumped amid the Russia-Ukraine war. Still, Jefferies called the report the quarter's "most underwhelming set of numbers" so far. The blue-chip company also said it will triple its share buyback program to $30 billion.
The 60-day moving average was able to contain the security's pullback from last week's attempt to conquer a March 10, record high of $174.75. While a new ceiling appears to be forming at the $154, Chevron stock still boasts an impressive 49.8% year-over-year lead.
Though long calls have been outpacing long puts overall, the latter have been picked up at a much quicker-than-usual pace lately. Back at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), CVX's 50-day put/call volume ratio of 0.66 stands higher than 98% of readings from the last 12 months.