Moderately bullish activity in Chevron (CVX), with shares up $3.75, or 2.29%, near $167.62. Options volume running well above average with 109k contracts traded and calls leading puts for a put/call ratio of 0.29, compared to a typical level near 0.63. Implied volatility (IV30) is higher by 1.8 points near 25.71,in the top quartile of the past year, suggesting an expected daily move of $2.71. Put-call skew flattened, suggesting a modestly bullish tone.Looking ahead: Chevron (CVX) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.
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