01 — CVX · BULL PUT SPREADS

Best CVX bull put 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
$231.46+13.3% / 30d
IV rank (1y)
33.7% · moderate
Next earnings
Oct 30
Market cap
$454.0B
P/E (fwd)
14.7
Dividend
$6.98 · Aug 19
Option vol
10K /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 · credit spread
$222.5/$217.5 put spread · Nov 20
22 DAYS · 2.9% OTM · 5 WIDE · SELL TO OPEN
Credit
$225
Return
81.82%
PoP
73%
SpreadExpirationCreditReturn ↓PoP
$225 / $220
1.8% OTM · 5 wide
Nov 20
22 days
$192
$1.92 / share
62.34%68%
$225 / $220
1.8% OTM · 5 wide
Nov 27
29 days
$168
$1.68 / share
50.6%68%
$220 / $215
4.0% OTM · 5 wide
Dec 4
36 days
$165
$1.65 / share
49.25%73%
$225 / $220
1.8% OTM · 5 wide
Dec 4
36 days
$149
$1.49 / share
42.45%67%
$227.5 / $222.5
0.7% OTM · 5 wide
Nov 20
22 days
$113
$1.13 / share
29.2%64%
$115 / $110
49.8% OTM · 5 wide
Nov 20
22 days
$1
$0.01 / share
0.2%70%
7 of 7 matchesCustomize filters →

03 — Strategy

Bull Put Spreads, plainly explained

Moderately bullish traders who want defined risk and credit-based income.

P&L at expiration · $222.5/$217.5 put spread · 22 DTE

$0+$225−$275$218 LONG$220.25 BE$223 SHORT

Key numbers

Premium collected+$225
Max profit+$225
Max loss−$275
Breakeven$220.25
Spread$222.5 / $217.5
Probability of profit73%
Days to expiration22

When this trade makes sense

Use when

    Avoid when

      Read the full bull put spreads guide →

      05 — RUN IT LIVE

      See the highest chance of profit on CVX.

      Option Agent scans live chains and recommends setups based on current market conditions.

      Analyze CVX free →

      Option Agent is not a registered investment advisor, broker-dealer, or financial planner. All analysis, recommendations, and data are for informational and educational purposes only and do not constitute personalized investment advice. Options trading involves substantial risk of loss and is not suitable for all investors. Past probability calculations do not guarantee future results. Consult a qualified financial advisor before making investment decisions.