CNQ · CANADIAN NATURAL RESOURCES Ltd

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$46.44 -0.57 (-1.21%) At close · Jul 24

Market Cap

$98.05B

2.09B

Options Chain

15-min delayed Underlying $46.44 · today Options Calculator

Positioning

Jul 31, 2026 · 6 days to expiry · 88 contracts

Put / call OI

0.45

Call-heavy positioning

Open interest

4,403

contracts outstanding

Volume

323

traded today

Max pain

$43.00

$3.44 below spot

ATM implied vol

30.9%

market's expected move

Open interest by strike · near the money

Calls Puts

36.5

37.5

38.5

39.5

40.5

41.5

42.5

43.5

44.5

45.5

46.5

47.5

48.5

Chain

Click any strike for greeks, breakeven and the calculator

Expiry

Jul 24 Jul 31 6d Aug 7 13d Aug 14 20d Aug 21 27d Aug 28 34d Sep 4 41d Sep 18 55d Dec 18 146d Jan 15 174d Mar 19 237d Jan 21 545d

Calls						Puts
OI	Vol	IV	Δ	Last	Strike	Last	Δ	IV	Vol	OI
0	—	—	—	—		—	—	—	—	0
Call · $25 In the money Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $25 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this put
0	—	—	—	—		—	—	—	—	1
Call · $30 In the money Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $30 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 1 Model this put
0	—	—	—	—		—	—	—	—	0
Call · $31 In the money Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $31 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this put
0	—	—	—	—		—	—	—	—	0
Call · $32 In the money Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $32 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this put
0	—	—	—	—		—	-0.067	185.9%	—	0
Call · $33 In the money Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $33 Last — Breakeven — Implied vol 185.9% Delta -0.067 ≈7% ITM Gamma 0.011 Theta -0.113 Vega 0.01 Open interest 0 Model this put
0	—	—	—	—		—	-0.05	152.1%	—	0
Call · $34 In the money Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $34 Last — Breakeven — Implied vol 152.1% Delta -0.05 ≈5% ITM Gamma 0.011 Theta -0.074 Vega 0.006 Open interest 0 Model this put
0	—	92.5%	0.993	—		$0.04	-0.045	132.5%	1	47
Call · $35 In the money Last — Breakeven — Implied vol 92.5% Delta 0.993 ≈99% ITM Gamma 0.004 Theta -0.007 Vega 0.001 Open interest 0 Model this call Put · $35 Last $0.04 Breakeven $34.96 Implied vol 132.5% Delta -0.045 ≈5% ITM Gamma 0.011 Theta -0.059 Vega 0.006 Open interest 47 Model this put
0	—	84.7%	0.992	—		$0.03	-0.039	113.6%	2	77
Call · $36 In the money Last — Breakeven — Implied vol 84.7% Delta 0.992 ≈99% ITM Gamma 0.005 Theta -0.007 Vega 0.001 Open interest 0 Model this call Put · $36 Last $0.03 Breakeven $35.97 Implied vol 113.6% Delta -0.039 ≈4% ITM Gamma 0.011 Theta -0.045 Vega 0.006 Open interest 77 Model this put
0	—	—	—	—		—	—	—	—	0
Call · $36.5 In the money Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $36.5 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this put
0	—	111.9%	0.947	—		$0.29	-0.042	103.7%	4	7
Call · $37 In the money Last — Breakeven — Implied vol 111.9% Delta 0.947 ≈95% ITM Gamma 0.015 Theta -0.054 Vega 0.006 Open interest 0 Model this call Put · $37 Last $0.29 Breakeven $36.71 Implied vol 103.7% Delta -0.042 ≈4% ITM Gamma 0.013 Theta -0.044 Vega 0.006 Open interest 7 Model this put
0	—	—	—	—		—	—	—	—	0
Call · $37.5 In the money Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $37.5 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this put
1	1	93.6%	0.955	$4.30		$0.08	-0.046	94.1%	15	31
Call · $38 In the money Last $4.30 Breakeven $42.30 Implied vol 93.6% Delta 0.955 ≈95% ITM Gamma 0.016 Theta -0.039 Vega 0.006 Open interest 1 Model this call Put · $38 Last $0.08 Breakeven $37.92 Implied vol 94.1% Delta -0.046 ≈5% ITM Gamma 0.016 Theta -0.043 Vega 0.006 Open interest 31 Model this put
0	—	80.4%	0.968	—		—	—	—	—	0
Call · $38.5 In the money Last — Breakeven — Implied vol 80.4% Delta 0.968 ≈97% ITM Gamma 0.014 Theta -0.025 Vega 0.006 Open interest 0 Model this call Put · $38.5 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this put
0	—	75.8%	0.966	—		$0.05	-0.051	84.7%	8	16
Call · $39 In the money Last — Breakeven — Implied vol 75.8% Delta 0.966 ≈97% ITM Gamma 0.016 Theta -0.025 Vega 0.006 Open interest 0 Model this call Put · $39 Last $0.05 Breakeven $38.95 Implied vol 84.7% Delta -0.051 ≈5% ITM Gamma 0.019 Theta -0.042 Vega 0.006 Open interest 16 Model this put
0	—	—	—	—		—	-0.073	89.1%	—	0
Call · $39.5 In the money Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $39.5 Last — Breakeven — Implied vol 89.1% Delta -0.073 ≈7% ITM Gamma 0.024 Theta -0.058 Vega 0.01 Open interest 0 Model this put
180	10	75%	0.945	$7.15		$0.07	-0.057	75.6%	1	83
Call · $40 In the money Last $7.15 Breakeven $47.15 Implied vol 75% Delta 0.945 ≈94% ITM Gamma 0.024 Theta -0.038 Vega 0.006 Open interest 180 Model this call Put · $40 Last $0.07 Breakeven $39.93 Implied vol 75.6% Delta -0.057 ≈6% ITM Gamma 0.024 Theta -0.041 Vega 0.006 Open interest 83 Model this put
0	—	76%	0.926	—		$0.40	-0.06	71.1%	2	2
Call · $40.5 In the money Last — Breakeven — Implied vol 76% Delta 0.926 ≈93% ITM Gamma 0.029 Theta -0.048 Vega 0.011 Open interest 0 Model this call Put · $40.5 Last $0.40 Breakeven $40.10 Implied vol 71.1% Delta -0.06 ≈6% ITM Gamma 0.026 Theta -0.04 Vega 0.006 Open interest 2 Model this put
308	5	57.9%	0.957	$6.00		$0.05	-0.055	62.6%	1	24
Call · $41 In the money Last $6.00 Breakeven $47.00 Implied vol 57.9% Delta 0.957 ≈96% ITM Gamma 0.025 Theta -0.023 Vega 0.006 Open interest 308 Model this call Put · $41 Last $0.05 Breakeven $40.95 Implied vol 62.6% Delta -0.055 ≈6% ITM Gamma 0.028 Theta -0.033 Vega 0.006 Open interest 24 Model this put
0	—	53.6%	0.954	—		$0.05	-0.156	92.3%	3	6
Call · $41.5 In the money Last — Breakeven — Implied vol 53.6% Delta 0.954 ≈95% ITM Gamma 0.029 Theta -0.022 Vega 0.006 Open interest 0 Model this call Put · $41.5 Last $0.05 Breakeven $41.45 Implied vol 92.3% Delta -0.156 ≈16% ITM Gamma 0.04 Theta -0.103 Vega 0.016 Open interest 6 Model this put
8	1	—	—	$2.25		$0.05	-0.053	50%	9	401
Call · $42 In the money Last $2.25 Breakeven $44.25 Implied vol — Delta — Gamma — Theta — Vega — Open interest 8 Model this call Put · $42 Last $0.05 Breakeven $41.95 Implied vol 50% Delta -0.053 ≈5% ITM Gamma 0.033 Theta -0.025 Vega 0.006 Open interest 401 Model this put
8	8	55.7%	0.904	$1.56		$0.05	-0.069	49.1%	1	106
Call · $42.5 In the money Last $1.56 Breakeven $44.06 Implied vol 55.7% Delta 0.904 ≈90% ITM Gamma 0.048 Theta -0.042 Vega 0.011 Open interest 8 Model this call Put · $42.5 Last $0.05 Breakeven $42.45 Implied vol 49.1% Delta -0.069 ≈7% ITM Gamma 0.042 Theta -0.031 Vega 0.011 Open interest 106 Model this put
78	5	—	—	$3.90		$0.05	-0.062	41.6%	15	478
Call · $43 In the money Last $3.90 Breakeven $46.90 Implied vol — Delta — Gamma — Theta — Vega — Open interest 78 Model this call Put · $43 Last $0.05 Breakeven $42.95 Implied vol 41.6% Delta -0.062 ≈6% ITM Gamma 0.046 Theta -0.024 Vega 0.006 Open interest 478 Model this put
0	5	45.9%	0.886	$3.46		$0.45	-0.178	60.7%	1	6
Call · $43.5 In the money Last $3.46 Breakeven $46.96 Implied vol 45.9% Delta 0.886 ≈89% ITM Gamma 0.066 Theta -0.04 Vega 0.011 Open interest 0 Model this call Put · $43.5 Last $0.45 Breakeven $43.05 Implied vol 60.7% Delta -0.178 ≈18% ITM Gamma 0.067 Theta -0.074 Vega 0.017 Open interest 6 Model this put
70	60	24.3%	0.975	$3.00		$0.15	-0.117	39.1%	4	19
Call · $44 In the money Last $3.00 Breakeven $47.00 Implied vol 24.3% Delta 0.975 ≈98% ITM Gamma 0.044 Theta -0.006 Vega 0.003 Open interest 70 Model this call Put · $44 Last $0.15 Breakeven $43.85 Implied vol 39.1% Delta -0.117 ≈12% ITM Gamma 0.079 Theta -0.036 Vega 0.011 Open interest 19 Model this put
35	26	38.5%	0.839	$0.82		$0.18	-0.163	38.7%	1	26
Call · $44.5 In the money Last $0.82 Breakeven $45.32 Implied vol 38.5% Delta 0.839 ≈84% ITM Gamma 0.1 Theta -0.042 Vega 0.017 Open interest 35 Model this call Put · $44.5 Last $0.18 Breakeven $44.32 Implied vol 38.7% Delta -0.163 ≈16% ITM Gamma 0.099 Theta -0.045 Vega 0.017 Open interest 26 Model this put
146	7	—	—	$1.83		$0.25	-0.219	39%	10	21
Call · $45 In the money Last $1.83 Breakeven $46.83 Implied vol — Delta — Gamma — Theta — Vega — Open interest 146 Model this call Put · $45 Last $0.25 Breakeven $44.75 Implied vol 39% Delta -0.219 ≈22% ITM Gamma 0.12 Theta -0.055 Vega 0.017 Open interest 21 Model this put
4	1	19.9%	0.86	$0.70		$0.30	-0.277	36.8%	4	1
Call · $45.5 In the money Last $0.70 Breakeven $46.20 Implied vol 19.9% Delta 0.86 ≈86% ITM Gamma 0.179 Theta -0.02 Vega 0.017 Open interest 4 Model this call Put · $45.5 Last $0.30 Breakeven $45.20 Implied vol 36.8% Delta -0.277 ≈28% ITM Gamma 0.142 Theta -0.058 Vega 0.022 Open interest 1 Model this put
30	17	22%	0.727	$1.10		$0.50	-0.354	37.6%	30	3
Call · $46 In the money Last $1.10 Breakeven $47.10 Implied vol 22% Delta 0.727 ≈73% ITM Gamma 0.237 Theta -0.033 Vega 0.022 Open interest 30 Model this call Put · $46 Last $0.50 Breakeven $45.50 Implied vol 37.6% Delta -0.354 ≈35% ITM Gamma 0.156 Theta -0.067 Vega 0.025 Open interest 3 Model this put
Underlying $46.44
102	26	25%	0.588	$0.95		$0.65	-0.435	36.9%	1	1
Call · $46.5 Last $0.95 Breakeven $47.45 Implied vol 25% Delta 0.588 ≈59% ITM Gamma 0.243 Theta -0.044 Vega 0.026 Open interest 102 Model this call Put · $46.5 In the money Last $0.65 Breakeven $45.85 Implied vol 36.9% Delta -0.435 ≈44% ITM Gamma 0.166 Theta -0.069 Vega 0.025 Open interest 1 Model this put
37	6	26.3%	0.467	$0.69		$0.99	-0.516	39.1%	5	6
Call · $47 Last $0.69 Breakeven $47.69 Implied vol 26.3% Delta 0.467 ≈47% ITM Gamma 0.237 Theta -0.048 Vega 0.026 Open interest 37 Model this call Put · $47 In the money Last $0.99 Breakeven $46.01 Implied vol 39.1% Delta -0.516 ≈52% ITM Gamma 0.16 Theta -0.074 Vega 0.026 Open interest 6 Model this put
1.9k	2	28.6%	0.365	$0.55		—	-0.587	41.3%	—	0
Call · $47.5 Last $0.55 Breakeven $48.05 Implied vol 28.6% Delta 0.365 ≈36% ITM Gamma 0.208 Theta -0.05 Vega 0.026 Open interest 1.9k Model this call Put · $47.5 In the money Last — Breakeven — Implied vol 41.3% Delta -0.587 ≈59% ITM Gamma 0.147 Theta -0.076 Vega 0.026 Open interest 0 Model this put
69	4	29.4%	0.278	$0.38		$2.54	-0.644	45.1%	5	5
Call · $48 Last $0.38 Breakeven $48.38 Implied vol 29.4% Delta 0.278 ≈28% ITM Gamma 0.178 Theta -0.046 Vega 0.023 Open interest 69 Model this call Put · $48 In the money Last $2.54 Breakeven $45.46 Implied vol 45.1% Delta -0.644 ≈64% ITM Gamma 0.13 Theta -0.081 Vega 0.023 Open interest 5 Model this put
2	1	30.3%	0.206	$0.26		—	-0.721	41.3%	—	0
Call · $48.5 Last $0.26 Breakeven $48.76 Implied vol 30.3% Delta 0.206 ≈21% ITM Gamma 0.147 Theta -0.04 Vega 0.017 Open interest 2 Model this call Put · $48.5 In the money Last — Breakeven — Implied vol 41.3% Delta -0.721 ≈72% ITM Gamma 0.127 Theta -0.066 Vega 0.023 Open interest 0 Model this put
11	10	32.4%	0.16	$0.30		—	-0.694	59.5%	—	0
Call · $49 Last $0.30 Breakeven $49.30 Implied vol 32.4% Delta 0.16 ≈16% ITM Gamma 0.117 Theta -0.037 Vega 0.017 Open interest 11 Model this call Put · $49 In the money Last — Breakeven — Implied vol 59.5% Delta -0.694 ≈69% ITM Gamma 0.092 Theta -0.099 Vega 0.023 Open interest 0 Model this put
11	5	46.5%	0.16	$0.08		—	-0.787	56.7%	—	0
Call · $50 Last $0.08 Breakeven $50.08 Implied vol 46.5% Delta 0.16 ≈16% ITM Gamma 0.082 Theta -0.053 Vega 0.018 Open interest 11 Model this call Put · $50 In the money Last — Breakeven — Implied vol 56.7% Delta -0.787 ≈79% ITM Gamma 0.08 Theta -0.078 Vega 0.018 Open interest 0 Model this put
0	—	64.6%	0.181	—		—	-0.931	41.4%	—	0
Call · $51 Last — Breakeven — Implied vol 64.6% Delta 0.181 ≈18% ITM Gamma 0.063 Theta -0.079 Vega 0.018 Open interest 0 Model this call Put · $51 In the money Last — Breakeven — Implied vol 41.4% Delta -0.931 ≈93% ITM Gamma 0.05 Theta -0.027 Vega 0.007 Open interest 0 Model this put
0	—	75.4%	0.169	—		—	—	—	—	0
Call · $52 Last — Breakeven — Implied vol 75.4% Delta 0.169 ≈17% ITM Gamma 0.052 Theta -0.088 Vega 0.018 Open interest 0 Model this call Put · $52 In the money Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this put
0	—	84.5%	0.155	—		—	-0.972	46.2%	—	0
Call · $53 Last — Breakeven — Implied vol 84.5% Delta 0.155 ≈16% ITM Gamma 0.044 Theta -0.095 Vega 0.018 Open interest 0 Model this call Put · $53 In the money Last — Breakeven — Implied vol 46.2% Delta -0.972 ≈97% ITM Gamma 0.021 Theta -0.015 Vega 0.003 Open interest 0 Model this put
0	—	93.4%	0.145	—		—	-0.974	52%	—	0
Call · $54 Last — Breakeven — Implied vol 93.4% Delta 0.145 ≈14% ITM Gamma 0.038 Theta -0.1 Vega 0.012 Open interest 0 Model this call Put · $54 In the money Last — Breakeven — Implied vol 52% Delta -0.974 ≈97% ITM Gamma 0.017 Theta -0.015 Vega 0.004 Open interest 0 Model this put
0	—	—	—	—		—	-0.92	80.8%	—	0
Call · $55 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $55 In the money Last — Breakeven — Implied vol 80.8% Delta -0.92 ≈92% ITM Gamma 0.029 Theta -0.057 Vega 0.012 Open interest 0 Model this put
0	—	—	—	—		—	-0.9	96.2%	—	0
Call · $56 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $56 In the money Last — Breakeven — Implied vol 96.2% Delta -0.9 ≈90% ITM Gamma 0.028 Theta -0.079 Vega 0.012 Open interest 0 Model this put
0	—	—	—	—		—	-0.942	87.1%	—	0
Call · $57 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $57 In the money Last — Breakeven — Implied vol 87.1% Delta -0.942 ≈94% ITM Gamma 0.02 Theta -0.047 Vega 0.007 Open interest 0 Model this put
0	—	—	—	—		—	-0.945	93.1%	—	0
Call · $58 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $58 In the money Last — Breakeven — Implied vol 93.1% Delta -0.945 ≈95% ITM Gamma 0.018 Theta -0.048 Vega 0.007 Open interest 0 Model this put
0	—	—	—	—		—	-0.964	98%	—	0
Call · $60 Last — Breakeven — Implied vol — Delta — Gamma — Theta — Vega — Open interest 0 Model this call Put · $60 In the money Last — Breakeven — Implied vol 98% Delta -0.964 ≈96% ITM Gamma 0.012 Theta -0.037 Vega 0.004 Open interest 0 Model this put

About this data

Greeks, implied volatility, open interest and the last price come from the latest daily snapshot and are 15-minute delayed. Bid and ask are not included on this plan.

In-the-money strikes are tinted, deepening toward the money, and the bar beside each open-interest figure scales to the heaviest strike shown. The 25 strikes around the money are shown by default — switch to "All 44" for the wings. Max pain is the listed strike where the most open interest would expire worthless — a positioning reference, not a forecast.

Key facts CIK 1017413 CUSIP 136385101 13F (30d) 162 filings 152 filers Visit website Investor relations