Moderately bullish activity in Occidental Petroleum (OXY), with shares up $1.75, or 3.21%, near $56.23. Options volume roughly in line with average with 93k contracts traded and calls leading puts for a put/call ratio of 0.23, compared to a typical level near 0.31. Implied volatility (IV30) is higher by 1.4 points near 41.8, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.48. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Occidental Petroleum (OXY) 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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