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Petrobras call volume above normal and directionally bullish

Bullish option flow detected in Petrobras (PBR) with 9,328 calls trading, 1.2x expected, and implied vol increasing over 1 point to 27.64%. Sep-26 12 calls and Dec-25 14 calls are the most active options, with total volume in those strikes near 2,800 contracts. The Put/Call Ratio is 0.36. Earnings are expected on November 6th.

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