Chevron's Trading Volume Drops 30.79% to $825 Million, Ranks 76th in Daily Volume

On May 9, 2025, Chevron (CVX) saw a trading volume of $825 million, marking a 30.79% decrease from the previous day. The stock ranked 76th in terms of trading volume for the day. Chevron's stock price rose by 1.06%, marking the fourth consecutive day of gains, with a total increase of 2.21% over the past four days.

Chevron has adjusted its second-quarter share buyback target to between $2.5 billion and $3 billion, down from $3.9 billion in the first quarter. This reduction reflects the uncertain macroeconomic environment and the company's cautious approach to capital allocation.

In its first-quarter earnings report, Chevron reported earnings per share (EPS) of $2.18, surpassing analysts' estimates of $2.16. However, this figure represents a 26% year-over-year decline, highlighting the challenges faced by the energy sector.

Options trading for Chevron has been relatively light, with 4,309 contracts traded. Calls have led puts, resulting in a put/call ratio of 0.53, compared to the typical level near 0.96. Implied volatility (IV30) dropped to 25.26, suggesting an expected daily move of $2.20. The put-call skew has steepened, indicating increased demand for downside protection.