Mixed options sentiment in Chevron (CVX), with shares up $3.02, or 1.65%, near $185.28. Options volume roughly in line with average with 47k contracts traded and calls leading puts for a put/call ratio of 0.32, compared to a typical level near 0.41. Implied volatility (IV30) dropped 0.27 near 22.83,and above the 52wk median, suggesting an expected daily move of $2.66. Put-call skew steepened, indicating increased demand for downside protection.
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