Dec. 12 at 11:44 PM
$CVE looking strong after a huge late-day move
Around 3:54 pm, someone dropped nearly
$20M on about 51,000 deep ITM calls
We’re talking Dec 19 and Jan 16 expiries, way above the usual open interest
This feels like serious institutional long-delta action, not just some short-term play
Cenovus’s 2026 plan adds fuel to the fire
With a 4% production growth target and a
$5.0 to
$5.3B budget focused on returns and debt reduction, it’s a solid backdrop
Looks like bullish positioning is in play here, especially with oil holding up
Keep an eye on this one