Best Options Strategy for CHRD
Looking for the best options strategy for Chord Energy Corporation (CHRD)? There is no single answer — the right play depends on your outlook, your risk tolerance and current implied volatility. Below, our free engine shows the highest-scoring defined-risk strategy on the live CHRD option chain right now, and a simple map from your view on CHRD to the strategy that fits it. Model any of them in the calculator before you trade.
About CHRD
Chord Energy Corporation (CHRD) is a major company in Oil & Gas E&P. Options traders on CHRD tend to watch , since these can drive large moves in the share price.
About Chord Energy Corporation
Chord Energy Corporation is an independent oil and gas producer focused on the Williston Basin in the United States. The company explores for and develops reserves of crude oil, natural gas, and natural gas liquids, then brings these commodities to market through production operations. Founded in 2007 and based in Houston, the company rebranded from its former name, Oasis Petroleum, to Chord Energy in mid-2022.
The company generates revenue by selling its oil and gas output to refiners, traders, and other buyers with access to pipeline and rail infrastructure. Its business model centers on upstream extraction and production activities rather than downstream refining or distribution. Scale and profitability depend on commodity prices, production volumes, reserve replacement, and operational efficiency across its assets in the Williston Basin, one of North America's major unconventional oil and gas plays.
Today's top-scoring strategy for CHRD
Our engine ranks defined-risk strategies on the live CHRD chain by probability of profit and risk/reward, then surfaces the best-scoring one. It is an educational illustration, not advice.
| Action | Qty | Type | Strike | Premium |
|---|---|---|---|---|
| Buy | 1× | PUT | $120 | $0.70 |
| Sell | 1× | PUT | $135 | $1.60 |
| Sell | 1× | CALL | $160 | $3.80 |
| Buy | 1× | CALL | $175 | $1.22 |
Simulation
Forward simulation of 6,000 lognormal price paths to expiration — not a historical backtest.
Strategy analysis
Greeks vs price
Price × volatility (today)
| −30% | −15% | IV | +15% | +30% | |
|---|---|---|---|---|---|
| $189 | −$994 | −$924 | −$863 | −$814 | −$777 |
| $181 | −$839 | −$771 | −$720 | −$685 | −$664 |
| $174 | −$608 | −$570 | −$548 | −$540 | −$543 |
| $166 | −$329 | −$344 | −$366 | −$394 | −$427 |
| $159 | −$66 | −$137 | −$206 | −$272 | −$333 |
| $151 | $101 | −$7 | −$109 | −$201 | −$281 |
| $143 | $110 | −$4 | −$111 | −$206 | −$289 |
| $136 | −$64 | −$147 | −$225 | −$297 | −$363 |
| $128 | −$385 | −$406 | −$433 | −$463 | −$496 |
| $121 | −$742 | −$704 | −$680 | −$668 | −$666 |
| $113 | −$1,002 | −$947 | −$901 | −$864 | −$838 |
Live scan from 2026-09-11 · quotes delayed ~15 minutes
Historical backtest: how a Iron Condor on CHRD would have performed
We approximated a Iron Condor on CHRD, entered repeatedly over the past year (92 historical entries, each held to expiration) with Black-Scholes-modelled entry premiums. Here is how that would have played out on real CHRD price history — an educational backtest, not a prediction of future returns.
Approximate: entry premiums are modelled with Black-Scholes from trailing realised volatility, held to expiration and settled against the real historical close. Real fills, implied volatility and slippage differ — treat it as directional context, not exact returns.
Implied volatility
CHRD is currently trading with elevated implied volatility, so its options carry richer premiums. On the options we scanned that was around 41% implied volatility, and higher implied volatility means richer premiums and wider expected moves.
Options on CHRD currently price in about 41% implied volatility, versus roughly 35% the stock has actually realised over the past month. The two are roughly in line, so neither buying nor selling premium has a clear volatility edge here.
Off that volatility, the options market is pricing a move of about ±$19.18 (±13%) in CHRD by 2026-10-16 — a range of roughly $132 to $170. Strikes inside that band hold most of the premium and see most of the action.
Across strikes, puts and calls on CHRD carry a fairly symmetric implied volatility — no strong directional fear is priced in either way.
CHRD options chain highlights: open interest, volume and skew
The live CHRD options chain shows a put/call open-interest ratio of 1.04 (balanced), with at-the-money implied volatility near 41.6%. Open interest clusters at the $170 call — a common resistance "wall" — and the $145 put, a support "wall": the strikes option writers are most exposed to into expiration.
Snapshot of open interest, volume and implied volatility for the nearest scanned expiration — context, not a trading signal.
Liquidity and tradeability
CHRD options are thinly traded, with wide bid-ask spreads around 26.3% near the money that eat into any edge — favour simple single-leg or tight defined-risk trades, and always use limit orders.
Earnings & IV crush
CHRD's next earnings report is due around November 3, 2026. Options that expire after it price in a binary move, so their implied volatility is elevated and usually collapses right after the announcement — an "IV crush". If your expiration falls before this date, the trade sidesteps the event.
Dividend and assignment risk
CHRD pays a dividend of about 3.5% a year, so short or covered calls on it carry early-assignment risk around each ex-dividend date — in-the-money calls are most exposed just before the stock goes ex-dividend.
Key figures
- Market cap
- $8.3B
- Beta (vs market)
- 0.39
- 52-week range
- $84.25–$154.00 (96% up the range)
- Short interest
- 9.4% of float · 5.2 days to cover
Other strong setups for CHRD
If your view on CHRD differs, these also scored well in the latest scan:
- Jelly Roll (POP 54%) Experienced
How to choose an options strategy for CHRD
Start with your outlook on CHRD, then match it to a defined-risk structure. Here are the most common choices and when each makes sense:
Bullish
Buy a call for leverage with capped risk, or a bull call spread to lower the cost and breakeven when you have a target price.
Long Call → Bull Call Spread →Bearish
Buy a put to profit from a decline with defined risk, or a bear put spread to cheapen the trade when you expect a measured move down.
Long Put → Bear Put Spread →Neutral
Sell an iron condor to collect premium while CHRD stays between two strikes, or write a covered call against shares you already own.
Iron Condor → Covered Call →⧉ Embed this free calculator on your site →
How we pick the best strategy
For each ticker we pull the live option chain, build every supported strategy around the at-the-money strikes, and score them on probability of profit, risk/reward and capital efficiency — favouring defined-risk structures where the maximum loss is known up front. Methodology →
Open CHRD in the free calculator →
Frequently asked questions
What is the best options strategy for CHRD?
It depends on your outlook. Bullish traders often use a long call or bull call spread on CHRD; bearish traders a long put or bear put spread; neutral traders an iron condor or covered call. Our live scan above shows the current highest-scoring defined-risk play.
Are CHRD options liquid enough to trade?
Chord Energy Corporation (CHRD) is among the most actively-traded US options, which usually means tight bid/ask spreads and plenty of strikes and expirations — though you should always check the open interest and spread on the exact contract.
How much money do I need to trade CHRD options?
Buying a single CHRD call or put can cost as little as the premium (often one to a few hundred dollars), while income strategies like a cash-secured put need enough capital to buy 100 shares if assigned.
Is this financial advice?
No. Everything here is educational and uses delayed, third-party data. It is not a recommendation to trade CHRD or any security. Do your own research.
What does Chord Energy Corporation do?
Chord Energy Corporation (CHRD) operates in the Oil & Gas E&P industry. The "About Chord Energy Corporation" section above gives a fuller picture of what the company does and how it earns money.
Does Chord Energy Corporation pay a dividend?
Yes — Chord Energy Corporation currently pays a dividend yielding about 3.5%. If you hold the shares (for example to write a covered call), the ex-dividend date can trigger early assignment, so check it beforehand.
When does Chord Energy Corporation next report earnings?
Chord Energy Corporation's next earnings are expected around November 3, 2026. Implied volatility usually climbs into the report and drops sharply afterwards (IV crush) — important for any options position held over the date.
Price trend
Tickers related to CHRD
Comparing CHRD with similar names can help you choose the best options strategy:
Company information
- Headquarters
- 1001 Fannin Street, Suite 1500, Houston, TX, 77002, United States
- Industry
- Oil & Gas E&P
- Employees
- 676
- CEO
- Mr. Daniel E. Brown
- Phone
- 281 404 9500
- Website
- www.chordenergy.com
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Educational use only. Quotes are delayed ~15 minutes and nothing here is financial advice. Options trading involves substantial risk of loss. Privacy · Terms.