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OXYOccidental Petroleum Corporation

Options Analysis Report•CRUDE PETROLEUM & NATURAL GAS
Market Cap $60.2B|NYSE
● 2026-08-31$60.18
BULLISH
Analysis: 2026-08-28 EOD data
1Y +25.2%YTD +42.0%7D +3.0%
11,070
30D
±8.6%
10%

OXY Options Overview

bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

5.7VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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OXY Gamma Walls

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Value

Is IV priced right?

7.7
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks7/9 checks passed
≤35%

IV Rank 48.6% — elevated vs history

<1.05x

IV/HV 0.92x — IV ≤ HV

Sector Relative≤50%

Sector percentile 33% — below sector median

<1.1x

Front/Back 0.89x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 29.8% — normal range

<80%

Effective IV 51.4% (ATM 29.8% + spread 10.8% + bias) — good value

<3.0%

Total drag 16.71% (spread 10.78% + slippage 5.93%) — high friction

≥5.0

Vega efficiency 5.04 (vega 5.431 / spread 10.78%) — acceptable

Sentiment

Bullish or bearish?

6.9
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBullish - Strong signal (Conviction: +11%, Raw: +11%)
|net sentiment| ≥25%

Conviction-weighted: +11% (bullish) — Raw: +11%

≥15%

|OI skew| 35.3% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +36.4%, OI skew +35.3% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +42%, ATM: -3%, OTM: +17% — bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 64% — bearish vs sector

Activity

Unusual activity?

2.1
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed
≥1.5x

Volume 0.3x avg — normal

≥15%

Vol/OI 1.4% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +3.7% (5d) — building

Sector Relative≥60%

Sector activity percentile 18% — quiet vs sector

≥30%

Large trade volume 14% — mostly retail

≥60%

Aggressive execution 26% — patient

≥30

Conviction +11 (bullish) — mixed

Liquidity

Can I trade efficiently?

5.0
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks4/8 checks passed
≤5.0%

Spread 10.8% — wide

≥10,000

OI 791,641 — deep

≥500

Volume 11,070/day — active

≤$0.50

$0.54 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 36% — tighter than sector

≥100 contracts

Depth 412.6 contracts (bid:229.5 ask:183.1) — adequate

<1.0%

Avg slippage 5.93% — poor

Timing

Is now a good time?

6.6
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -11.4% — contango

<30 or >70

IV percentile 49% — neutral

≥10pts kink

IV kink -2.4pts — no clear event

<0.5 or >2.0

θ/ν ratio 152.98 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +11% @ 55% consistency — unclear

≥40 composite score

Score 44 (ITM 20% + inst 14%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls7.4
bullishIV cheap, bullish flow
Long Puts5.5
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.1
bullishIV too cheap, bullish flow
Covered Call3.8
bearishIV too cheap, bullish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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