Moderately bullish activity in Exxon Mobil (XOM), with shares up $4.17, or 2.75%, near $155.76. Options volume extremely heavy with 1.65m contracts traded and calls leading puts for a put/call ratio of 0.06, compared to a typical level near 0.54. Implied volatility (IV30) is higher by 0.6 points near 26.35,in the top quartile of the past year, suggesting an expected daily move of $2.59. Put-call skew steepened, indicating increased demand for downside protection.
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