Bearish options flow identified in Exxon Mobil with shares down 2.41%

Bearish options flow identified in Exxon Mobil (XOM), with shares down $3.73 near $150.80. Options volume running well above average with 129k contracts traded and puts leading calls for a put/call ratio of 1.33, compared to a typical level near 0.55. Implied volatility (IV30) is higher by 1.8 points near 28.35, in the highest 10% of observations over the past year, suggesting an expected daily move of $2.69. Put-call skew steepened, indicating increased demand for downside protection.