Diamondback Energy (FANG) call and put prices

On 6 Nov 2026 Diamondback Energy closed at $178.96. The market is charging for moves of 36% a year on options expiring 15 Jan 2027; the shares moved 34% a year over the past year.

Of 79 calls and puts compared with the market, 10 read expensive, 69 in line and 0 cheap against our price.

Expiring 20 Nov 2026 (14 days)

StrikeCall: our priceCall: market priceGapReadingPut: our pricePut: market priceGapReading
$155.00$24.09$24.45+1.5%in line$0.07$0.33+364.3%in line
$160.00$19.15$19.45+1.6%in line$0.25no recent market price——
$165.00$14.41$14.80+2.7%in line$0.69$1.35+95.7%in line
$170.00$10.12$10.75+6.2%in line$1.63$1.73+5.8%in line
$175.00$6.57$7.20+9.6%in line$3.27$3.80+16.2%in line
$180.00 (nearest the share price)$3.91$5.10+30.4%expensive$5.73$6.05+5.6%in line
$185.00$2.14$2.65+23.8%in line$9.01$9.25+2.7%in line
$190.00$1.06$1.52+43.9%in line$12.97$13.10+1.0%in line
$195.00$0.48$0.82+71.9%expensive$17.41$17.60+1.1%in line
$200.00$0.20$0.30+50.0%in line$22.15$21.75-1.8%in line

The market is charging for moves of 39% a year on this date.

Expiring 18 Dec 2026 (42 days)

StrikeCall: our priceCall: market priceGapReadingPut: our pricePut: market priceGapReading
$155.00$24.63$25.55+3.7%in line$0.98$1.45+48.0%in line
$160.00$20.34$21.35+5.0%in line$1.73$2.38+37.3%in line
$165.00$16.44$17.30+5.2%in line$2.84$3.38+18.8%in line
$170.00$12.99$13.85+6.6%in line$4.37$4.90+12.1%in line
$175.00$9.99$10.70+7.1%in line$6.38$7.20+12.9%in line
$180.00 (nearest the share price)$7.52$8.55+13.7%in line$8.90$9.30+4.5%in line
$185.00$5.51$6.15+11.6%in line$11.90$11.85-0.4%in line
$190.00$3.92$4.85+23.7%in line$15.33$15.70+2.4%in line
$195.00$2.73$3.15+15.4%in line$19.18$19.15-0.2%in line
$200.00$1.85$2.08+12.2%in line$23.34$23.20-0.6%in line

The market is charging for moves of 37% a year on this date.

Expiring 15 Jan 2027 (70 days)

StrikeCall: our priceCall: market priceGapReadingPut: our pricePut: market priceGapReading
$155.00$26.17$27.85+6.4%expensive$2.12$2.70+27.4%in line
$160.00$22.24$23.65+6.3%in line$3.17$3.88+22.2%in line
$165.00$18.68$20.15+7.9%expensive$4.58$5.35+16.8%in line
$170.00$15.45$16.70+8.1%expensive$6.33$7.30+15.3%in line
$175.00$12.61$13.50+7.1%in line$8.48$9.25+9.1%in line
$180.00 (nearest the share price)$10.15$11.30+11.3%in line$11.02$11.25+2.1%in line
$185.00$8.04$8.80+9.5%in line$13.91$14.20+2.1%in line
$190.00$6.29$7.05+12.1%in line$17.18$17.30+0.7%in line
$195.00$4.86$5.45+12.1%in line$20.78$20.75-0.1%in line
$200.00$3.70$3.80+2.7%in line$24.67$24.65-0.1%in line

The market is charging for moves of 36% a year on this date.

Expiring 19 Mar 2027 (133 days)

StrikeCall: our priceCall: market priceGapReadingPut: our pricePut: market priceGapReading
$155.00$29.17$31.05+6.4%expensive$4.67$5.40+15.6%in line
$160.00$25.64$27.50+7.3%in line$6.14$6.75+9.9%in line
$165.00$22.39$24.20+8.1%expensive$7.88$8.90+12.9%in line
$170.00$19.42$21.15+8.9%expensive$9.90$10.90+10.1%in line
$175.00$16.73$18.00+7.6%in line$12.20$13.10+7.4%in line
$180.00 (nearest the share price)$14.32$15.55+8.6%in line$14.77$15.50+4.9%in line
$185.00$12.18$13.30+9.2%in line$17.62$18.30+3.9%in line
$190.00$10.30$11.65+13.1%expensive$20.72$21.10+1.8%in line
$195.00$8.65$9.65+11.6%in line$24.07$24.10+0.1%in line
$200.00$7.23$8.50+17.6%expensive$27.63$27.90+1.0%in line

The market is charging for moves of 36% a year on this date. This date is on or after the next earnings report (1 Feb 2027). The market charges extra for that; our price does not.

How these prices are worked out

Our price is what each option would cost if Diamondback Energy's shares keep moving as much as they did over the past year (34% a year, measured over 251 trading days). It comes from the Black-Scholes model, in the form that allows for early exercise, and it assumes dividends of $1.10 on 13 Nov 2026, $1.10 on 5 Mar 2027. Interest rates are US Treasury yields for each option's remaining life.

The market price is halfway between the best bid and the best offer at the close on 6 Nov 2026. Where there was no live bid and offer that day, the page says no recent market price.

Expensive means buyers in the market are bidding more than our price. Cheap means sellers are asking less than our price. In line means our price sits between the bid and the offer. Prices under five cents are not compared.

Our price leaves out earnings reports, news, and any view on which way the shares will go. If the past year was rougher than the market expects the coming months to be, our prices come out above the market's and options read cheap; if it was calmer, they read expensive.

Prices as of 6 Nov 2026. Not investment advice.

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