This study examines intervention approaches to improve the accuracy of risk judgments among college students with unrealistic optimism about alcohol‐related problems. We conducted a randomized experiment with 2 self‐affirmation (affirmed, nonaffirmed) and 3 message conditions (narrative, informational, no treatment control). Results indicate that providing risk information to unrealistic optimists, while concomitantly protecting their self‐concept via either self‐affirmation or narratives, may reduce defensive reactions and align their perceived risk more closely with their actual risk. Self‐affirmation reduced unrealistic optimism only among those exposed to an informational message, not those exposed to a narrative. The narrative message appeared to increase perceived risk among unrealistic optimists via transportation and identification with the character. We discuss theoretical and practical implications of this work.