OPTIONS: The Majors Option Implied Volatility as Oil Pulls Back after Settling More than 4% Higher on Thursday (NYSE:TOT)


The Majors option implied volatility as oil prices pull back after settling more than 4% higher on Thursday Total (NYSE:TOT) 30-day implied volatility is at 21, compared to its 52-week range of 20 to 43. Statoil (STO) 30-day implied volatility is at 28, compared to its 52-week range of 26 to 61.

Suncor (SU) 30-day implied volatility is at 22, compared to its 52-week range of 23 to 58. Implied volatility is the volatility expectation that is priced into individual options. All the inputs of an options pricing model are known (time to expiration, strike, price, interest rates) except for the volatility that the option is pricing in. When the option implied volatility value is backed out the traders understand the relative value of the option’s price.

About 1.99 million shares traded hands or 60.48% up from the average. Total SA (ADR) (NYSE:TOT) has risen 14.36% since February 8, 2016 and is uptrending. It has underperformed by 2.13% the S&P500.

Total SA is an oil and gas company. The company has a market cap of $118.83 billion. It has three divisions: the Upstream segment, including the activities of the exploration and production of hydrocarbons, and the activities of gas; the Refining & Chemicals segment constituting an industrial hub consisting of the activities of refining, petrochemicals and specialty chemicals, and also includes the activities of oil trading and shipping, and the Marketing & Services segment, including the activities of supply and marketing in the field of petroleum products, as well as the activity of New Energies. It has a 37.65 P/E ratio. The Marketing & Services segment is engaged in the development of its oil products distribution activities and related services around the world.

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