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What the Market Suggested about Weatherford on November 10

PART:
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Part 2
What the Market Suggested about Weatherford on November 10 PART 2 OF 3

What’s Weatherford’s Stock Price Forecast for Next 7 Days?

Weatherford’s implied volatility

On November 10, 2017, Weatherford International’s (WFT) implied volatility (or IV) was ~54%. WFT released its 3Q17 financial results on November 1. Since November 1, 2017, Weatherford’s IV has remained unchanged at 54%. Since November 1, WFT’s stock price has risen 11%. WFT makes up 3.1% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES). XES has risen 7% since November 1.

Weatherford’s 7-day stock price forecast

WFT’s stock will likely close between $4.37 and $3.77 in the next seven days. The estimate is based on Weatherford International’s IV, assuming normal distribution of stock prices and one standard deviation probability of 68.2%. WFT’s stock price was $4.07 on November 10, 2017.What’s Weatherford’s Stock Price Forecast for Next 7 Days?

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Implied volatility for WFT’s peers on November 10

Implied volatility (or IV) indicates a stock’s potential price movement, as viewed by the option traders. McDermott International’s (MDR) implied volatility on November 10 was 37%, which implies MDR’s price could vary between $8.03 and $7.25 in the next seven days. TechnipFMC’s (FTI) implied volatility was 32% on November 10. TechnipFMC’s stock price could vary between $30.21 and $27.63 in the next seven days. Read more about FTI in Market Realist’s TechnipFMC: What Worked and What Did Not in 3Q17.

Crude oil’s implied volatility

On November 10, 2017, crude oil’s implied volatility was 24.2%. Since September 29, 2017, WFT’s implied volatility has risen from ~52% to ~54% now. During the same period, implied volatility for crude oil has remained nearly unchanged. The S&P 500 Index (SPX-INDEX) has risen 2% since September 29, 2017. The energy sector accounts for 5.9% of the S&P 500 Index.

Next, we’ll discuss Weatherford’s correlation with crude oil prices.

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