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Time to Get Ready for Phillips 66’s 1Q17 Earnings

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Part 5
Time to Get Ready for Phillips 66’s 1Q17 Earnings PART 5 OF 7

Why Implied Volatility in Phillips 66 Rose before 1Q17 Earnings

Implied volatility in Phillips 66

Implied volatility in Phillips 66 (PSX) stands at 19.4%. It has risen from 16.0% on March 30, 2017. In the same period, PSX stock fell 4.0%.

Why Implied Volatility in Phillips 66 Rose before 1Q17 Earnings

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Peers’ implied volatilities

Implied volatilities for HollyFrontier (HFC), Western Refining (WNR), and PBF Energy (PBF) rose from 4.8%, 0.60%, and 4.7%, respectively, on March 30, 2017, to 38.0%, 30.0%, and 44.0%, respectively, on April 19, 2017. In terms of absolute levels, Phillips 66 (PSX) has the lowest implied volatility among independent American refiners.

If you want exposure to stocks in various subsegments of the energy sector, you can look at the SPDR S&P Oil & Gas Exploration & Production ETF (XOP). XOP will provide a wider exposure to the sector.

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