Mixed options sentiment in Petrobras with shares up 0.37%

Mixed options sentiment in Petrobras (PBR), with shares up 8c, or 0.37%, near $20.45. Options volume relatively light with 14k contracts traded and calls leading puts for a put/call ratio of 0.71, compared to a typical level near 0.62. Implied volatility (IV30) dropped 0.07 near 43.89, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.57. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Petrobras (PBR) will report earnings after the close on 2026-05-11.Option markets are pricing in a 50% probability of a move greater than 4.36% or $0.89.