Option traders moderately bearish in Occidental Petroleum (OXY), with shares down 38c near $45.38. Options volume relatively light with 51k contracts traded and puts leading calls for a put/call ratio of 2.63, compared to a typical level near 0.61. Implied volatility (IV30) dropped 0.99 near 33.25,in the top quartile of the past year, suggesting an expected daily move of $0.95. Put-call skew steepened, indicating increased demand for downside protection.
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