OXYOccidental Petroleum Corporation
Options Analysis Report•CRUDE PETROLEUM & NATURAL GAS
Market Cap $53.3B|NYSE
● 2026-04-17$53.79
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +37.9%YTD +26.9%7D -7.2%
Options Vol
71,814
30D
Implied Move
±11.2%
IV Rank
51%
OXY Options Overview
Mixed signals. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.7
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 53.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.96x — IV ≤ HV
Sector Relative≤50%
Sector percentile 59% — above sector median
Term Structure
<1.1xFront/Back 1.00x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 37.3% — normal range
Spread-Adjusted Value
<80%Effective IV 53.8% (ATM 37.3% + spread 8.3% + bias) — good value
Execution Efficiency
<3.0%Total drag 12.93% (spread 8.27% + slippage 4.66%) — high friction
Vega Efficiency
≥5.0Vega efficiency 25.63 (vega 21.199 / spread 8.27%) — efficient
Sentiment
Bullish or bearish?
6.2
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: -9%, Raw: -8%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -9% (neutral) — Raw: -8%
OI Skew Magnitude
≥15%|OI skew| 37.2% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +33.1%, OI skew +37.2% — aligned
Conviction Quality
≥2/3 conditions0-DTE 34%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +22%, ATM: -11%, OTM: -8% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 26% — very bullish vs sector
Activity
Unusual activity?
4.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 0.6x avg — normal
Turnover Rate
≥15%Vol/OI 6.3% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +9.0% (5d) — building
Sector Relative≥60%
Sector activity percentile 83% — very active vs sector
Trade Quality
≥30%Large trade volume 34% — institutional presence
Execution Urgency
≥60%Aggressive execution 58% — patient
Flow Conviction
≥30Conviction -9 (bearish) — mixed
Liquidity
Can I trade efficiently?
5.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 8.3% — wide
Adequate OI
≥10,000OI 1,130,281 — deep
Active Volume
≥500Volume 71,814/day — active
Reasonable Cost
≤$0.50$0.41 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 61% — wider than sector
Order Book Depth
≥100 contractsDepth 566.8 contracts (bid:280.1 ask:286.7) — deep
Execution Quality
<1.0%Avg slippage 4.66% — poor
Timing
Is now a good time?
6.9
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +0.0% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 54% — neutral
Event Detection
≥10pts kinkIV kink -1.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1570.31 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 18d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -9% @ 54% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 64 (ITM 20% + inst 34%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.0
bullishIV fair, bullish flow
Long Puts5.1
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.5
bullishIV fair, bullish flow
Covered Call4.7
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.