Mixed options sentiment in Occidental Petroleum (OXY), with shares down 2c near $61.23. Options volume relatively light with 15k contracts traded and calls leading puts for a put/call ratio of 0.26, compared to a typical level near 0.29. Implied volatility (IV30) dropped 0.47 near 38.05,in the top quartile of the past year, suggesting an expected daily move of $1.47. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Neutral at JPMorgan.
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