Moderately bullish activity in Occidental Petroleum (OXY), with shares up 74c, or 1.75%, near $42.74. Options volume relatively light with 30k contracts traded and calls leading puts for a put/call ratio of 0.42, compared to a typical level near 0.57. Implied volatility (IV30) is higher by 0.2 points near 31.44,and above the 52wk median, suggesting an expected daily move of $0.85. Put-call skew steepened, indicating increased demand for downside protection.
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