CVX vs DVN: Options Risk Comparison

CHEVRON CORP and DEVON ENERGY CORP/DE compared side by side — risk score, IV Rank, edge and earnings. Updated every 30 minutes.

Metric	CVX	DVN
Risk Score	48	38
Risk Band	MEDIUM	LOW
IV Rank	66.1%	22.2%
IV %	28.9%	43.4%
Edge Score	+18	-16
Price Δ	-0.4%	-0.4%
Next Earnings	2026-07-31	2026-08-04
Sector	Energy	Energy

Which has higher options risk?

CHEVRON CORP (CVX) currently carries the higher options risk score (48 vs 38 for DVN) — meaning more active catalysts that can drive an overnight move. For selling option premium, CHEVRON CORP (CVX) has the better edge score (+18) — a stronger blend of high IV Rank and low risk.

Risk score (0–100) reflects active catalysts — earnings, legal, SEC filings and news. Edge score = IV Rank − risk score; higher is better for selling premium.

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CVX risk pages

CVX overview CVX IV / options CVX earnings DVN overview DVN IV / options DVN earnings

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