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Petrobras call volume above normal and directionally bullish

Bullish option flow detected in Petrobras (PBR) with 4,635 calls trading, 1.3x expected, and implied vol increasing almost 3 points to 22.92%. Jun-26 16 calls and Mar-26 12 calls are the most active options, with total volume in those strikes near 3,000 contracts. The Put/Call Ratio is 0.15. Earnings are expected on February 25th.

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