Mixed options sentiment in Chevron (CVX), with shares down 2c near $166.25. Options volume relatively light with 32k contracts traded and calls leading puts for a put/call ratio of 0.46, compared to a typical level near 0.58. Implied volatility (IV30) is higher by 2.0 points near 24.5,and above the 52wk median, suggesting an expected daily move of $2.57. Put-call skew flattened, suggesting a modestly bullish tone.Looking ahead: Chevron (CVX) will report earnings before the open on 2026-01-30.Option markets are pricing in a 50% probability of a move greater than 2.47% or $4.11.
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