Mixed options sentiment in Chevron (CVX), with shares down $10.96 near $195.94. Options volume running well above average with 83k contracts traded and calls leading puts for a put/call ratio of 0.76, compared to a typical level near 0.55. Implied volatility (IV30) dropped 1.38 near 29.93, in the highest 10% of observations over the past year, suggesting an expected daily move of $3.69. Put-call skew steepened, indicating increased demand for downside protection.
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