Options volume is relatively light, with 11k contracts traded and calls leading puts for a put/call ratio of 0.2, compared to a typical level near 1.26. Implied volatility (IV30) dropped 15.58 to 35.67,above the median, suggesting an expected daily move of $0.26. Put-call skew flattened, suggesting a modestly bullish tone.Looking ahead: Petrobras (PBR) will report earnings after the close on 2025-05-12.Option markets are pricing in a 50% probability of a move greater than -5.03% or $-0.59.
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