NOG Forecast



Bearish<—>Bullish



80% Confidence




Bullish Case: NOG's implied volatility surface indicates potential bullish sentiment with higher call volume. Stable oil demand and strategic acquisitions support upside potential.




Bearish Case: Low trading volume, flat term structure, and geopolitical uncertainties pose risks. Potential regulatory challenges in oil sector add to downside pressure.




Potential Outcomes: 60% chance of moderate growth, leveraging acquisitions; 25% risk of stagnation due to market volatility; 15% chance of decline from geopolitical tensions.




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January 24, 2025


Northern Oil and Gas Forecast

NOG        Northern Oil and Gas











Correlated Assets

Assets that tend to move strongly with NOG



XOP Forecast + Options Trading Strategies   XOP  SPDR Oil & Gas Exploration and Production (0.73)


SU Forecast + Options Trading Strategies   SU  Suncor Energy (0.66)


ROOT Forecast + Options Trading Strategies   ROOT  Root (0.66)


EMR Forecast + Options Trading Strategies   EMR  Emerson Electric (0.62)


UAN Forecast + Options Trading Strategies   UAN  CVR Partners (0.6)



Uncorrelated Assets

Assets with little price relationship to NOG



NG Forecast + Options Trading Strategies   NG  Novagold Resources (0.0)


LHX Forecast + Options Trading Strategies   LHX  L3Harris (0.0)


MRCY Forecast + Options Trading Strategies   MRCY  Mercury Systems (0.0)


VTRS Forecast + Options Trading Strategies   VTRS  Viatris (0.0)


ED Forecast + Options Trading Strategies   ED  Consolidated Edison (0.0)



Anticorrelated Assets

Assets that tend to move strongly against NOG



MPWR Forecast + Options Trading Strategies   MPWR  Monolithic Power System (-0.39)


FXY Forecast + Options Trading Strategies   FXY  Invesco CurrencyShares Japanese Yen (-0.4)


BCE Forecast + Options Trading Strategies   BCE  BCE (-0.41)


AEHR Forecast + Options Trading Strategies   AEHR  Aehr Test Systems (-0.44)


LCID Forecast + Options Trading Strategies   LCID  Lucid (-0.47)









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