Option traders moderately bearish in Occidental Petroleum (OXY), with shares down $1.10 near $41.27. Options volume running well above average with 70k contracts traded and calls leading puts for a put/call ratio of 0.38, compared to a typical level near 0.67. Implied volatility (IV30) is higher by 2.7 points near 29.5,and below the 52wk median, suggesting an expected daily move of $0.77. Put-call skew steepened, indicating increased demand for downside protection.
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Read More on OXY:
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