$CVX

Does he own it?

Multiple first-person statements: in his YTD recap he says he rode the move into CVX calls; he repeatedly references already hedging with oil before the Iran event with hedges up sharply; and a portfolio-style barbell list explicitly includes CVX calls as his oil hedge. These are personal position claims (via options), though framed as a tactical hedge rather than a sized core holding, and no percent weight is given.

His thesis

CVX is his preferred large-cap oil play and a hedge against Middle East conflict (Israel/Iran strikes) and Venezuela disruption. He argues geopolitical escalation lifts energy, and that obvious oil longs like CVX outperform contrarian bets in wartime. He often pairs it with defense names as a war/oil basket, favoring CVX calls given low IV for leveraged upside on supply disruption.

How his view evolved

Started as a suggested war/oil hedge alongside defense, then he claims to have actually held CVX calls and profited as oil rallied. Later he lists CVX calls as a standing oil-hedge sleeve, while noting oil could cool post-war but remain strategically important.

Key points

• Treats CVX as the go-to large-cap oil/war hedge tied to Iran and Venezuela catalysts
• Claims he held CVX calls and profited, favoring options given low implied volatility
• Keeps CVX calls as a recurring hedge sleeve, not a core conviction long

Derived from a holistic read of his public posts — paraphrased, never quoted. See his actual posts about $CVX on X ↗