01 — CVX · BEAR CALL SPREADS

Best CVX bear call spreads setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

Second-largest US energy supermajor with steady options flow and Hess-merger overhang.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD

Chevron

Energy

CVX

$235.52+15.3% / 30d

IV rank (1y)

35% · moderate

Next earnings

Oct 30

Market cap

$462.0B

P/E (fwd)

14.9

Dividend

$6.98 · Aug 19

Option vol

13K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on return, premium, and probability of profit.

Days to expiration

Probability of profit

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Top pick · credit spread

$245/$250 call spread · Dec 4

34 DAYS · 4.0% OTM · 5 WIDE · SELL TO OPEN

Credit

$140

Return

38.89%

PoP

66%

Spread	Expiration	Credit	Return ↓	PoP
$245 / $250 4.0% OTM · 5 wide	Nov 27 27 days	$125 $1.25 / share	33.33%	69%
$250 / $255 6.2% OTM · 5 wide	Dec 4 34 days	$103 $1.03 / share	25.94%	75%

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03 — Strategy

Bear Call Spreads, plainly explained

Moderately bearish or neutral traders seeking defined-risk credit income.

P&L at expiration · $245/$250 call spread · 34 DTE

Key numbers

Premium collected+$140

Max profit+$140

Max loss−$360

Breakeven$246.40

Spread$245 / $250

Probability of profit66%

Days to expiration34

When this trade makes sense

Use when

Avoid when

Read the full bear call spreads guide →

04 — By condition

Read by market condition

High Implied Volatility

Post-Earnings IV Crush

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05 — RUN IT LIVE

See the highest chance of profit on CVX.

Alpha Hawk scans live chains and recommends setups based on current market conditions.

Analyze CVX free →