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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OXY:
- CVX, SHEL, OXY: Oil Prices Fall as OPEC+ Again Boosts Production
- Mixed options sentiment in Occidental Petroleum with shares up 2.69%
- Moderately bullish activity in Occidental Petroleum with shares up 1.75%
- Occidental Petroleum price target raised to $47 from $42 at Wells Fargo
- Unusually active option classes on open June 23rd