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Where Range Resources Stock Could Settle This Week

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Range Resources’ implied volatility

As of March 9, 2018, Range Resources (RRC) had an implied volatility of ~47.3%, which is higher than its implied volatility of ~40.7% on December 29, 2017. In the last five trading sessions, Range Resources’ implied volatility decreased from ~49.0% to ~47.3% due to the rise of ~7% in its price.

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Price range forecast

Based on Range Resources’ implied volatility of ~47.3%, assuming the normal distribution of prices, 365 days in a year, and standard deviation of one, its stock could close between $16.77 and $14.71 in the next seven calendar days. Range Resources stock will stay in this range 68% of the time. On March 9, Range Resources’ stock price closed at $15.74.

Peers’ price range forecast

As of March 9, 2018, Marathon Oil (MRO) has an implied volatility of ~35.6%. Marathon Oil stock is expected to close between $15.97 and $14.47 in the next seven calendar days. On March 9, Marathon Oil’s stock price closed at $15.22.

As of March 9, 2018, the First Trust Natural Gas ETF (FCG) has an implied volatility of ~27.4%. FCG is expected to close between $21.73 and $20.13 in the next seven calendar days. On March 9, FCG’s stock price closed at $20.93.

Based on the inputs used to calculate the price range, there’s a 68% probability that these stocks will close in their range for the given period.

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