NFX’s Volatility Has Declined Significantly since Early 2016
Newfield Exploration’s implied volatility
Newfield Exploration’s (NFX) current implied volatility is ~41.5%, which is 2.9% higher than its 15-day average of ~40.3%. As we note in the image below, Newfield Exploration’s implied volatility has fallen since the start of this year. Its implied volatility was as high as 79.5% on February 11.
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Newfield Exploration’s peers Oasis Petroleum (OAS) and Whiting Petroleum (WLL) have implied volatilities of 75.3% and 72.2%, respectively. These companies make up 6% of the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).