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Apache’s Volatility Has Fallen since January 2016

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Apache’s implied volatility

Apache’s (APA) current implied volatility is ~33.8%, 4% lower than its 15-day average of ~35.2%. Apache’s implied volatility has fallen significantly since the start of this year. On January 20, 2016, it was as high as ~70%.

Apache’s peers Anadarko Petroleum (APC), Concho Resources (CXO), and Newfield Exploration (NFX), in comparison, have implied volatilities of ~35.2%, 35.9%, and ~39.6%, respectively. These companies make up 7.8% of the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).

In the next part of this series, we’ll take a look at trends in the institutional holdings of Apache’s stock.

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