Oceaneering International’s implied volatility
Oceaneering International’s price forecast
Oceaneering International stock will likely close between $24.87 and $22.05 by June 29 based on its implied volatility. Oceaneering International’s stock price forecast considers a normal distribution of stock prices and a standard deviation of one with a probability of 68.2%. OII’s stock price was $23.46 on June 21.
Implied volatility for OII’ peers
Tidewater’s (TDW) implied volatility on June 21 was 41%, which implies that TDW’s stock price could vary between $29.14 and $25.78 by June 29. Weatherford International’s (WFT) implied volatility was 68.1% on June 21, implying that its stock price could range between $3.53 and $2.89 by June 29. TechnipFMC’s (FTI) implied volatility was 33.7% on June 21, implying that its stock price could vary between $32.29 and $29.23 by June 29.
Crude oil’s implied volatility
On June 21, crude oil’s implied volatility was 24.9%, implying that its price could vary between $67.96 and $63.12 by June 29. Since April 25, crude oil’s volatility has decreased. Read Market Realist’s The Top Five Oilfield Companies by Expected Revenue Growth in Q2 to learn more.
Next, let’s discuss OII’s correlation coefficient with crude oil.