Option traders moderately bearish in Occidental Petroleum (OXY), with shares down 59c near $53.62. Options volume running well above average with 109k contracts traded and calls leading puts for a put/call ratio of 0.19, compared to a typical level near 0.36. Implied volatility (IV30) is higher by 0.5 points near 42.23, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.43. Put-call skew steepened, indicating increased demand for downside protection.
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