Moderately bullish activity in Occidental Petroleum (OXY), with shares up 74c, or 1.18%, near $62.97. Options volume running well above average with 182k contracts traded and calls leading puts for a put/call ratio of 0.31, compared to a typical level near 0.29. Implied volatility (IV30) is higher by 2.1 points near 42.36, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.68. Put-call skew steepened, indicating increased demand for downside protection.
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