Chevron Corporation (CVX) Covered Calls

Chevron Corporation covered calls Chevron Corporation is a leading integrated energy company involved in virtually every facet of the energy industry. The company explores for, produces, and transports crude oil and natural gas; refines, markets, and distributes transportation fuels and lubricants; and manufactures and sells petrochemicals and additives. Chevron is also actively developing lower carbon businesses, focusing on renewable fuels, hydrogen, carbon capture, and other emerging energy technologies.

You can sell covered calls on Chevron Corporation to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for CVX (prices last updated Fri 4:16 PM ET):

Chevron Corporation (CVX) Stock Quote
Last Change Bid Ask Volume P/E Market Cap
183.74 +1.34 183.44 183.60 9.0M 26 367
Covered Calls For Chevron Corporation (CVX)
Expiration Strike Call Bid Net Debit Return
If Flat		 Annualized
Return If Flat
Feb 20 182.5 1.98 181.62 1.5% 68.4%
Mar 20 185 4.20 179.40 3.3% 33.5%
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Core Business and Products

Chevron Corporation (CVX) is one of the world's largest "supermajor" integrated energy companies. Headquartered in the United States, Chevron manages a massive global portfolio that spans the entire hydrocarbon value chain, from exploration to the retail pump. In 2026, the company continues to leverage its operational scale while executing a multi-year strategy to reduce carbon intensity and grow new energy sectors.

  1. Upstream Operations: This segment is the primary engine for Chevron's energy production. The company is a leader in the Permian Basin, one of the most productive oil and gas regions in the world. Significant offshore assets include the "Anchor" platform in the Gulf of America and major projects in Guyana and the Eastern Mediterranean. Chevron focuses on "high-return, low-carbon intensity" barrels, utilizing advanced seismic imaging and autonomous drilling technologies to maximize efficiency.
  2. Downstream and Chemicals: Chevron operates a sophisticated network of refineries, primarily in the United States and Asia, processing over a million barrels of crude oil daily. Its retail presence is anchored by the Chevron, Texaco, and Caltex brands. Through its 50 percent ownership in Chevron Phillips Chemical Company, it is also a global leader in commodity petrochemicals.
  3. New Energies: Reflecting the global energy transition, Chevron is investing heavily in lower-carbon technologies. This includes the production of renewable diesel and sustainable aviation fuel, as well as developing large-scale carbon capture and storage (CCS) projects and hydrogen production facilities aimed at decarbonizing heavy industry.

Competitive Landscape

Chevron operates in a highly capital-intensive global market, competing with other integrated giants for resources, market share, and capital efficiency:

  1. Direct Integrated Rivals: Chevron's most prominent competitor is Exxon Mobil, which remains the largest U.S.-based energy company. Other global peers include Shell, BP, and TotalEnergies.
  2. Independent Producers: In the U.S. shale market, Chevron competes for acreage and talent with large independent exploration and production firms such as ConocoPhillips, Occidental Petroleum, and Devon Energy.
  3. Specialized and Regional Peers: In its midstream and chemical operations, the company occasionally competes with infrastructure-focused firms like ONEOK and refinery leaders like Valero Energy.

Strategic Outlook and Innovation

As of February 2026, Chevron is entering a new phase of growth following its transformational acquisition of Hess. This move significantly expanded its footprint in Guyana, one of the world's most important new oil provinces. The company's 2026 strategic plan emphasizes "capital discipline," with a focus on returning excess cash to shareholders through a peer-leading dividend and an aggressive share repurchase program. Innovation is central to this outlook; Chevron is increasingly utilizing "Agentic AI" to optimize refinery maintenance and predict subsurface geological formations with unprecedented accuracy. Furthermore, the company's "Project Apollo" uses advanced analytics to pinpoint high-return drilling locations, reducing environmental impact while increasing yield. By balancing its core oil and gas strengths with a $10 billion commitment to new energy ventures through 2028, Chevron aims to remain a resilient and essential provider of reliable, affordable energy for decades to-come.