---
title: "Why Bulls Should Buy the Dip on Chevron Stock"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283168564.md"
description: "Schaeffer's Weekend Trader recommends buying Chevron (CVX) stock as it has pulled back to key support levels, including the 50-day moving average and the 185 strike, which may provide put support. The stock's volatility is low, with the Schaeffer’s Volatility Index at the 24th percentile. A June call option is suggested, offering a leverage ratio of 10.2, potentially doubling with a 9.7% increase in share price. This commentary highlights the favorable conditions for options trading on CVX."
datetime: "2026-04-17T15:27:22.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283168564.md)
  - [en](https://longbridge.com/en/news/283168564.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283168564.md)
---

# Why Bulls Should Buy the Dip on Chevron Stock

_Subscribers to Schaeffer's Weekend Trader options recommendation service received this CVX commentary on Sunday night, along with a detailed options trade recommendation -- including complete entry and exit parameters. Learn more about why **Weekend Trader** is one of our most popular options trading services._

**Chevron Corp (NYSE:CVX)** stock has pulled back to highs from 2022/2023, an area that coincides with its year-to-date anchored volume weighted average price (AVWAP). There’s also potential for an undercut of the 50-day moving average into support that could trap bearish bettors.

The shares are trading into the 185 strike, which could act as put support as well. Digging deeper, resistance at the 200-strike call reduces next week, eliminating an overhead resistance level.

With a Schaeffer’s Volatility Index (SVI) sitting in the 24th percentile of its annual range, premium is appropriately priced at the moment.

Our recommended June call has a leverage ratio of 10.2 and will double on a 9.7% lift in the underlying shares.

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