Aramco CEO Amin Nasser said in London on October 5 that global oil inventories are 'scarily thin' after a seven-month war removed nearly 3 billion barrels of supply, that accessible oil stocks sit near 600 million barrels, and that rebuilding could take two years even after Hormuz fully reopens. The G7 answered with a release of up to 100 million barrels, roughly 1 percent of the 10 billion barrels the world entered the crisis with. Low-cost US producers collect the upside while that cushion stays thin. OXY trades at $57.93 with IV rank at 27 and IV percentile near 30, so the June 2027 65 call is cheap against a thesis with a multi-quarter runway. Beta is minus 0.50, so the position also diversifies a tech-heavy book. Options liquidity is rated 4 of 5. The main risk is a full Hormuz reopening combined with restored OPEC volumes, which would knock crude down and leave the call worthless. Earnings land on November 9 and can move the stock either way.
OXY options
Occidental Petroleum Corporation: implied volatility, options liquidity and upcoming catalysts, as the public market snapshot holds them.
Price and volatility
- Price
- $57.07
- Change
- +$0.17 (+0.30%)
- IV rank
- 32.9
- IV percentile
- 34.4
- Implied volatility
- 34.8%
- Implied volatility, 5-day change
- −8.1 pts
- Historical volatility, 30-day
- 32.8%
- Implied minus historical volatility
- +3 pts
- Implied volatility term structure
- 42.8% for Nov 13, 2026, 37.1% for Nov 20, 2026
- Options liquidity
- 4/5
- Share volume
- 11.6K
- Market cap
- $56.4B
- 52-week range
- $38.80–$67.45
- Lendability
- Easy To Borrow
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Upcoming catalysts
No upcoming dated event is stored for OXY. This page shows what is already on the calendar and does not run a search.