Petrobras call volume above normal and directionally bullish

Bullish option flow detected in Petrobras with 8,863 calls trading, 1.1x expected, and implied vol increasing almost 2 points to 28.94%. 10/25 weekly 15.5 calls and 10/25 weekly 14.5 calls are the most active options, with total volume in those strikes near 3,400 contracts. The Put/Call Ratio is 0.33. Earnings are expected on November 7th.