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California Resources’ 1-Month Stock Forecast

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California Resources’ implied volatility

On February 26, 2018, California Resources (CRC) had an implied volatility of ~83.1%, which is higher than its implied volatility of ~69.9% on December 29, 2017. In 2018, CRC’s implied volatility has increased due to a rise in its price.

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CRC’s price range forecast

Based on California Resources’ (CRC) implied volatility of ~83.1%, its stock can close between $15.32 and $24.90 in the next 30 calendar days. This forecast is based on assuming a normal distribution of prices, a 365-day year, and a standard deviation of 1. CRC stock to expected stay in this range 68.0% of the time. On February 26, CRC’s stock price closed at $20.11.

Peer’s price range forecast

On February 26, 2018, CRC’s peer Marathon Oil (MRO) had an implied volatility of ~39.7%. MRO stock is expected to close between $13.59 and $17.09 in the next 30 calendar days. On February 26, MRO’s stock price closed at $15.34.

On February 26, 2018, the SPDR S&P Oil and Gas Exploration & Production ETF (XOP) had an implied volatility of ~28.6%. XOP is expected to close between $31.94 and $37.64 in the next 30 calendar days. On February 26, XOP’s price closed at $34.79.

Based on the inputs used in these price range calculations, there is a 68.0% probability that these stocks will close in these ranges in the next 30 calendar days.

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