Option traders moderately bearish in Occidental Petroleum (OXY), with shares down 48c near $42.23. Options volume running well above average with 106k contracts traded and calls leading puts for a put/call ratio of 0.39, compared to a typical level near 0.62. Implied volatility (IV30) is higher by 3.5 points near 33.26,and above the 52wk median, suggesting an expected daily move of $0.88. Put-call skew steepened, indicating increased demand for downside protection.
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