01 — CVX · CASH-SECURED PUTS

Best CVX cash-secured puts 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
Sort by
Top pick
$230 put · Dec 4
34 DAYS · 2.3% OTM · SELL TO OPEN
Credit
$631
Return
2.68%
PoP
62%
StrikeExpirationCreditReturn ↓PoP
$230
2.3% OTM
Nov 27
27 days
$585
$5.85 / share
2.48%63%
$225
4.5% OTM
Dec 4
34 days
$474
$4.74 / share
2.01%70%
$225
4.5% OTM
Nov 27
27 days
$397
$3.97 / share
1.69%73%
$115
51.2% OTM
Dec 4
34 days
$0
$0.00 / share
0%70%
$120
49.0% OTM
Dec 4
34 days
$0
$0.00 / share
0%70%
$125
46.9% OTM
Dec 4
34 days
$0
$0.00 / share
0%70%
7 of 7 matchesCustomize filters →

03 — Strategy

Cash-Secured Puts, plainly explained

Income-focused traders comfortable owning shares if assigned.

P&L at expiration · $230 put · 34 DTE

$0+$631losses$223.69 BREAKEVEN$230 STRIKE

Key numbers

Premium collected+$631
Max profit+$631
Breakeven$223.69
Capped above$230
Probability of profit62%
Days to expiration34

When this trade makes sense

Use when

  • ✓You have cash to buy 100 shares at the strike
  • ✓You'd be happy owning the stock at the strike price
  • ✓You think the stock holds or drifts up
  • ✓IV rank is elevated — premiums are rich

Avoid when

  • ✕You think the stock is about to drop hard
  • ✕You don't actually want to own the stock
  • ✕Earnings are inside the expiration window
  • ✕Premiums are unusually low — nothing to collect
Read the full cash-secured puts guide →

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 →