Given the increased implied volatility and mean-reverting dynamics, employing Bearish Long Volatility is ideal. This strategy benefits from potential downside risk while leveraging the expected volatility uptick identified in the surface graphs.
Assets that tend to move strongly with PSX
SLB Schlumberger (0.95)
DVN Devon Energy (0.94)
LYB LyondellBasell Industries (0.93)
DOW Dow (0.91)
GES Guess (0.91)
Assets with little price relationship to PSX
VZ Verizon Communications (0.01)
BXMT Blackstone Mortgage (0.01)
KDP Keurig Dr Pepper (-0.02)
VOYA Voya Financial (0.04)
AMH American Homes 4 Rent (-0.04)
Assets that tend to move strongly against PSX
ONON On (-0.86)
VIRT Virtu Financial (-0.86)
NOK Nokia (-0.86)
SAP Sap SE (-0.87)
EAT Brinker International (-0.87)
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