Mixed options sentiment in Chevron (CVX), with shares up $3.57, or 1.93%, near $188.35. Options volume relatively light with 43k contracts traded and calls leading puts for a put/call ratio of 0.58, compared to a typical level near 0.52. Implied volatility (IV30) dropped 0.68 near 30.17, in the highest 10% of observations over the past year, suggesting an expected daily move of $3.58. Put-call skew flattened, suggesting a modestly bullish tone.Looking ahead: Chevron (CVX) will report earnings before the open on 2026-05-01.Option markets are pricing in a 50% probability of a move greater than 3.51% or $6.62.
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