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Permian Resources call volume above normal and directionally bullish

Bullish option flow detected in Permian Resources with 5,608 calls trading, 3x expected, and implied vol increasing over 1 point to 47.75%. Apr-24 20 calls and Jan-24 17 calls are the most active options, with total volume in those strikes near 3,700 contracts. The Put/Call Ratio is 0.15. Earnings are expected on November 7th.

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