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	64	89
Risk Band	MEDIUM	HIGH
IV Rank	59.1	21.1
IV %	27.7%	42.5%
Edge Score	-5	-68
Price Δ	-0.4%	-0.2%
Next Earnings	2026-07-31	2026-08-04
Sector	Energy	Energy

Which has higher options risk?

DEVON ENERGY CORP/DE (DVN) currently carries the higher options risk score (89 vs 64 for CVX) — meaning more active catalysts that can drive an overnight move. For selling option premium, CHEVRON CORP (CVX) has the better edge score (-5) — 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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