Petrobras call volume above normal and directionally bullish

Bullish option flow detected in Petrobras with 32,070 calls trading, 1.9x expected, and implied vol increasing over 1 point to 31.50%. Jul-23 9 calls and Apr-23 9 calls are the most active options, with total volume in those strikes near 17,900 contracts. The Put/Call Ratio is 0.38. Earnings are expected on May 9th.