Chevron Corporation (CVX) IV/HV History
Comparing implied volatility to historical (realized) volatility reveals whether options are priced rich or cheap relative to actual price movement. Persistent gaps can signal trading opportunities.
Chevron Corporation (CVX) operates in the Energy sector, specifically the Oil & Gas Integrated industry, with a market capitalization near $370.42B, listed on NYSE, employing roughly 45,298 people, carrying a beta of 0.50 to the broader market. Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. Led by Michael K. Wirth, public since 1921-06-24.
Snapshot as of May 15, 2026.
- Spot Price
- $190.44
- ATM IV
- 27.9%
- HV 20-Day
- 25.4%
- HV 60-Day
- 25.3%
- IV Rank
- 63.8%
- IV Percentile
- 82.9%
As of May 15, 2026, Chevron Corporation (CVX) ATM implied volatility is 27.9%. 20-day realized volatility is 25.4%, producing an IV-HV spread of +2.4 vol points. Options are pricing in more volatility than the stock has recently delivered, the volatility risk premium. IV rank is 63.8%.
How CVX iv/hv history Data Feeds Strategy Selection
Strategy selection on Chevron Corporation options does not derive from any single metric in isolation. The iv/hv history view above sits inside a broader read: ATM IV currently sits at 27.9% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the iv/hv history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
Learn how implied vs realized volatility is reported and how to read the data →
CVX highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $205.00 | May 22, 2026 | 4.6K | 283 | 33.6% | $0.11 | $0.19 |
Top 1 contracts from the ORATS-sourced nightly scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked CVX iv/hv history questions
- Is CVX options pricing rich or cheap right now?
- As of May 15, 2026, Chevron Corporation (CVX) ATM IV is 27.9% against 20-day realized volatility of 25.4%. IV rank is 63.8%. CVX options are pricing in more volatility than the stock has recently realized: a positive variance risk premium worth 2.4 vol points.
- What is the CVX variance risk premium?
- The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. CVX is currently priced consistently with this premium, which is one input to whether short-vol or long-vol structures carry their typical edge.
- What does CVX IV rank mean for strategy selection?
- IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. CVX's current rank of 63.8% signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.