Has CVX’s Implied Volatility Surged prior to Its Earnings?
Implied volatility in CVX
Chevron’s (CVX) implied volatility stands at 17.9%, reflecting a rise from its level of 15.3% on March 30, 2017. In the same period, CVX’s stock price has fallen 1%.
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Peers’ implied volatilities
CVX’s peers Total (TOT), Petrobras (PBR), PetroChina (PTR), and YPF (YPF) also saw rises in their implied volatilities by 2.1%, 2.1%, 1.7%, and 4.8%, respectively, to 21%, 43%, 23%, and 37%, respectively.
Regarding absolute levels, ExxonMobil (XOM) has the lowest implied volatility in the integrated energy sector, standing at 16%. On the other hand, Petrobras has the highest implied volatility.
If you’re looking for broad-based exposure to energy sector stocks, you can consider the Energy Select Sector SPDR ETF (XLE).