Occidental Petroleum (OXY) surged 6.50% during Thursday's intraday trading, outperforming broader oil sector gains. The sharp rise coincided with unusually high bullish option flow in the stock.
Market data revealed 50,860 call options traded in OXY, 1.4x the expected volume, with implied volatility spiking over 1 point to 30. This activity suggests strong investor optimism about the stock's near-term performance.
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