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

02 — Live setups

Suggested strikes

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

Days to expiration
Probability of profit
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Top pick
$175 put · May 29
21 DAYS · 4.1% OTM · SELL TO OPEN
Credit
$248
Annualized
23.62%
PoP
71%
StrikeExpirationCreditAnnualized PoP
$175
4.1% OTM
Jun 5
28 days
$305
$3.05 / share
21.79%69%
$175
4.1% OTM
Jun 12
35 days
$367
$3.67 / share
20.97%67%
$105
42.5% OTM
May 29
21 days
$10
$0.10 / share
0.95%70%
$115
37.0% OTM
May 29
21 days
$10
$0.10 / share
0.95%70%
$105
42.5% OTM
Jun 5
28 days
$10
$0.10 / share
0.71%70%
$110
39.7% OTM
May 29
21 days
$0
$0.00 / share
0%70%
$110
39.7% OTM
Jun 5
28 days
$0
$0.00 / share
0%70%
$115
37.0% OTM
Jun 5
28 days
$0
$0.00 / share
0%70%
$120
34.3% OTM
Jun 5
28 days
$0
$0.00 / share
0%70%
10 of 15 matchesCustomize filters →

03 — Strategy

Cash-Secured Puts, plainly explained

Income-focused traders comfortable owning shares if assigned.

P&L at expiration · $175 put · 21 DTE

$0+$248losses$172.52 BREAKEVEN$175 STRIKE

Key numbers

Premium collected+$248
Max profit+$248
Breakeven$172.52
Capped above$175
Probability of profit71%
Days to expiration21

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.

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

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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.