Mixed options sentiment in Petrobras (PBR), with shares up 42c, or 2.12%, near $20.50. Options volume roughly in line with average with 50k contracts traded and calls leading puts for a put/call ratio of 0.25, compared to a typical level near 0.55. Implied volatility (IV30) dropped 0.73 near 39.92,in the top quartile of the past year, suggesting an expected daily move of $0.52. Put-call skew flattened, suggesting a modestly bullish tone.
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