PSX Gamma Exposure, IV Rank & Implied Volatility
Phillips 66 (PSX) options data — GEX, IV rank, options chain & Greeks
PSX options trade with implied volatility typically in the 22% - 48% range, averaging N/A in daily volume with very good liquidity. Next earnings: See earnings calendar. Weekly options and LEAPS are available.
An IV rank near 78.7 (the value shown here is illustrative) would mean implied volatility is in roughly the 78.7th percentile of its 1-year range — elevated, premium-selling regime for credit spreads, iron condors, and short strangles. For today's live PSX IV rank from ORATS, open the dashboard.
Chart shows simulated data for display purposes. View the real PSX IV history on the live platform →
Comprehensive options market data for Phillips 66 (PSX).
PSX Options at a Glance
What's Covered in This Guide
1 About Phillips 66 (PSX)
Phillips 66 (PSX) is a oil refining company listed on NYSE.
Company Profile
Key Dates
Phillips 66 is a Oil Refining) company in the Energy sector.
2 PSX Options Market Overview
PSX options provide trading opportunities for options traders.
Liquidity Assessment: Very Good
PSX options provide trading opportunities across multiple expirations.
3 PSX Implied Volatility & IV Rank
PSX implied volatility patterns reflect the oil refining sector dynamics.
Earnings Impact
IV typically expands before earnings and contracts after the announcement.
The post-earnings volatility drop is known as IV crush. Holders of short PSX options should also understand early assignment risk around dividends and expiration.
Historical Volatility vs IV
PSX IV generally trades near historical volatility, with premiums expanding around earnings.
Term Structure
Typically upward sloping under normal conditions.
PSX Gamma Exposure (GEX)
Gamma Exposure analysis for PSX reveals dealer hedging dynamics at key strike levels.
Typical GEX Profile: PSX tends to operate in a positive gamma environment during normal conditions.
Key Levels:
Dealer Hedging:
4 Common PSX Options Strategies
These are strategies commonly used by traders on PSX options, based on typical market characteristics. This is not investment advice.
Popular for PSX shareholders seeking additional income.
Defined-risk directional exposure on PSX.
Range-bound strategy for PSX between events.
Key Considerations for PSX Options
- Monitor PSX earnings dates for IV expansion/contraction patterns
- Consider the stock's beta when sizing options positions
- PSX options liquidity varies by expiration - prefer near-term and monthly expirations
Frequently Asked Questions: PSX Options
What is PSX's typical implied volatility?
PSX implied volatility typically ranges from 22% - 48%. IV patterns are influenced by earnings, sector events, and market conditions.
Does PSX have weekly options?
Yes, PSX offers weekly options expirations.
What is PSX's options trading profile?
PSX (Phillips 66) options trade with very good liquidity, averaging N/A in daily volume, typical bid-ask spreads of N/A. Implied volatility typically falls in the 22% - 48% range. The position sits in the Energy category for portfolio diversification and options strategy design.
How does PSX implied volatility behave around earnings?
IV typically expands before earnings and contracts after the announcement. Next scheduled earnings: See earnings calendar. Traders often size short premium positions for the post-earnings IV crush, while long premium buyers should be aware that the IV decline can outweigh small directional moves.
What options strategies work well on PSX?
Popular strategies on PSX options include Covered Calls, Vertical Spreads, Iron Condors. Strategy selection depends on the current IV environment versus the 22% - 48% typical range, days to next earnings, and the trader's directional outlook. Higher IV regimes favour premium-selling strategies; lower IV regimes favour directional debit spreads or long premium plays.
What is PSX's gamma exposure (GEX)?
Gamma exposure (GEX) measures how options dealers' hedging of their net gamma position can influence PSX's intraday price action. PSX tends to operate in a positive gamma environment during normal conditions. Positive GEX tends to dampen volatility and create mean-reverting moves, while negative GEX can amplify swings. View live PSX GEX levels and the gamma-flip point on ApexVol.
What is PSX's IV rank?
PSX's IV rank shows where PSX's current implied volatility sits within its trailing 1-year range, scored 0–100. A reading near 100 means IV is near its yearly high — options are relatively expensive, which favors premium-selling strategies like credit spreads and iron condors. A reading near 0 means IV is near its yearly low, favoring premium-buying. PSX implied volatility typically ranges from 22% - 48%. Check PSX's live IV rank and percentile on ApexVol's IV analytics.
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