Why Tesoro’s Implied Volatility Has Fallen Pre-4Q16 Earnings
Implied volatility for Tesoro
Implied volatility for Tesoro (TSO) currently stands at 30.0%. It was 38.0% on January 10, 2017. During the same period, TSO stock rose 1.0%.
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Peers’ implied volatilities
TSO’s peer Phillips 66 (PSX) has the lowest implied volatility of 20.0%. Alon USA Energy (ALJ) has the highest implied volatility of 49.0%. Implied volatilities for PBF Energy (PBF) and Delek US Holdings (DK) are both 46.0%, which is higher than TSO’s.
If you’re looking for exposure to refining sector stocks, you can consider the iShares US Energy (IYE). IYE has a ~7.0% exposure to refining and marketing sector stocks.