Mixed options sentiment in Chevron (CVX), with shares down $4.86 near $186.93. Options volume relatively light with 53k contracts traded and calls leading puts for a put/call ratio of 0.58, compared to a typical level near 0.58. Implied volatility (IV30) dropped 1.29 near 28.2,in the top quartile of the past year, suggesting an expected daily move of $3.32. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at TPH&Co..Looking ahead: Chevron (CVX) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.
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