Best Options Strategy for PR
Looking for the best options strategy for Permian Resources Corporation (PR)? 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 PR option chain right now, and a simple map from your view on PR to the strategy that fits it. Model any of them in the calculator before you trade.
About PR
Permian Resources Corporation (PR) is a major company in Oil & Gas E&P. Options traders on PR tend to watch , since these can drive large moves in the share price.
About Permian Resources Corporation
Permian Resources Corporation is an oil and natural gas producer operating in the United States, with a primary focus on extracting crude oil and liquids-rich natural gas from unconventional reserves. The company concentrates its operations in the Delaware Basin, which forms part of the larger Permian Basin system. Its asset base includes acreage positions in Reeves County in West Texas and Lea County in New Mexico. Originally established as Centennial Resource Development, Inc., the company rebranded to its current name in September 2022. Founded in 2015, Permian Resources maintains its headquarters in Midland, Texas.
The company generates revenue by developing and producing oil and natural gas from its Delaware Basin properties, selling these commodities into regional and broader energy markets. Through its acreage holdings in Texas and New Mexico, Permian Resources operates as an independent producer without the downstream refining or retail operations that integrated energy companies maintain. The scale of operations spans multiple producing properties across two states, with the company's business model centered on reserve development, production optimization, and commodity…
Today's top-scoring strategy for PR
Our engine ranks defined-risk strategies on the live PR 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 | $20 | $0.05 |
| Sell | 1× | PUT | $21 | $0.13 |
| Sell | 1× | CALL | $26 | $0.20 |
| Buy | 1× | CALL | $28 | $0.03 |
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% | |
|---|---|---|---|---|---|
| $30 | −$153 | −$144 | −$136 | −$129 | −$123 |
| $28 | −$124 | −$116 | −$109 | −$105 | −$101 |
| $27 | −$80 | −$78 | −$77 | −$76 | −$76 |
| $26 | −$33 | −$39 | −$43 | −$47 | −$51 |
| $25 | $2 | −$7 | −$16 | −$23 | −$30 |
| $24 | $17 | $9 | −$0 | −$9 | −$17 |
| $22 | $14 | $7 | −$0 | −$7 | −$15 |
| $21 | −$6 | −$10 | −$14 | −$18 | −$22 |
| $20 | −$38 | −$36 | −$35 | −$35 | −$36 |
| $19 | −$63 | −$59 | −$56 | −$53 | −$51 |
| $18 | −$73 | −$71 | −$69 | −$66 | −$64 |
Illustrative example at PR's latest available price, computed with the same engine as the tool. Live option fills and the real IV skew refresh during US market hours.
Implied volatility
PR is currently trading with moderate implied volatility, broadly in line with other large-cap stocks. On the options we scanned that was around 32% implied volatility, and higher implied volatility means richer premiums and wider expected moves.
Options on PR currently price in about 32% implied volatility, versus roughly 33% 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 ±$2.32 (±10%) in PR by 2026-10-16 — a range of roughly $21.32 to $25.95. Strikes inside that band hold most of the premium and see most of the action.
Across strikes, downside puts on PR trade at a higher implied volatility than upside calls — the market is paying up for crash protection. That skew favours selling put spreads or buying calls over symmetric trades.
PR insider trading activity (SEC Form 4)
Open-market insider transactions at PR over roughly the last six months, from SEC Form 4 filings. Open-market buys are the rarer, more telling signal — routine selling under pre-arranged plans is common, so read a net-selling figure with that in mind.
| Insider | Action | Shares | Value | Date |
|---|---|---|---|---|
| Oliphint Guy M | Sell | 62,769 | $1.3M | 2026-05-21 |
| Marquez Aron | Sell | 7,750 | $152K | 2026-03-18 |
| Quinn William J | Sell | 512,429 | $10.0M | 2026-03-18 |
| Marquez Aron | Sell | 5,250 | $103K | 2026-03-17 |
Source: SEC Form 4 filings via Finnhub. Open-market purchases (P) and sales (S) only — grants, option exercises, gifts and tax withholding are excluded. Informational context, not investment advice.
Earnings & IV crush
PR's next earnings report is due around November 4, 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
PR pays a dividend of about 2.7% 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
- $19.8B
- Beta (vs market)
- 0.48
- 52-week range
- $11.92–$24.20 (95% up the range)
- Short interest
- 2.5% of float · 2.0 days to cover
How to choose an options strategy for PR
Start with your outlook on PR, 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 PR 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 PR in the free calculator →
Frequently asked questions
What is the best options strategy for PR?
It depends on your outlook. Bullish traders often use a long call or bull call spread on PR; 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 PR options liquid enough to trade?
Permian Resources Corporation (PR) 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 PR options?
Buying a single PR 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 PR or any security. Do your own research.
What does Permian Resources Corporation do?
Permian Resources Corporation (PR) operates in the Oil & Gas E&P industry. The "About Permian Resources Corporation" section above gives a fuller picture of what the company does and how it earns money.
Does Permian Resources Corporation pay a dividend?
Yes — Permian Resources Corporation currently pays a dividend yielding about 2.7%. 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 Permian Resources Corporation next report earnings?
Permian Resources Corporation's next earnings are expected around November 4, 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 PR
Comparing PR with similar names can help you choose the best options strategy:
Company information
- Headquarters
- 300 North Marienfeld Street, Suite 1000, Midland, TX, 79701, United States
- Industry
- Oil & Gas E&P
- Employees
- 515
- CEO
- Mr. William M. Hickey III
- Phone
- 432 695 4222
- Website
- www.permianres.com
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