Phillips 66 (PSX) Options Risk Score

Run a full PSX options risk analysis

See the complete risk breakdown — news catalysts, SEC filings, legal proceedings, earnings overlap, IV vs HV, options flow and Expected Move — all in one scan.

Is it risky to sell options on Phillips 66 (PSX) right now?

Over a 4-week expiry window, Phillips 66 (PSX) scores 97 out of 100 for options catalyst risk (HIGH). What pushes it there: an upcoming earnings report, 7 recent news items and 2 active legal filings, all landing inside the 4-week window. Anything at 70 or above counts as HIGH, meaning the premium on PSX is at least partly compensation for a scheduled event rather than pure time value. It says nothing about direction — only that something is on the calendar.

PSX shows an IV Rank of 80 — implied volatility is near the top of its own one-year range, so PSX options are historically expensive, which favours premium-selling strategies, with a current implied volatility of about 47%. Read IV Rank alongside the catalyst score: it says how expensive PSX options are, while the score says whether that price is justified by a scheduled event.

PSX reports on 2026-10-28. Any expiry beyond that date carries the gap, and the implied volatility priced in beforehand typically collapses the morning after.

Phillips 66 (PSX) current implied volatility and IV Rank

The most recent read on Phillips 66 (PSX) puts its IV Rank at 80 with implied volatility around 47%, alongside a TickerRisk options-risk score of 97/100. That's high — options are expensive relative to the past year, which favours premium-selling strategies such as credit spreads, iron condors and covered calls, provided no binary catalyst is working against you.

For what this number does and does not tell you about PSX's options, see IV Rank explained.

Phillips 66 (PSX) next earnings date — 2026-10-28

Phillips 66 (PSX) reports earnings on 2026-10-28 — about 7 days away, which falls inside a typical options expiry window. PSX's IV Rank is currently 80. Earnings are the single biggest scheduled catalyst for an overnight gap: implied volatility usually runs up into the report and collapses immediately after (the IV crush). Selling premium into the event captures that crush but exposes you to the gap; buying premium needs a move large enough to beat the elevated IV you paid.

TickerRisk provides risk scoring for informational purposes only. This is not financial advice. Options trading involves substantial risk of loss. Full disclaimer