Petrobras (NYSE: PBR), a Brazil based oil and gas company, closed at $126.18 Wednesday.
PBR is expected to report Q1 EPS on May 12.
Crude oil futures are recently at $117.57 according to Bloomberg.
PBR May option implied volatility of 55 is above its 26-week average of 51 according to Track Data, suggesting larger price risk.
Volatility Index S&P 500 Options-VIX at 20.26; 10-day moving average is 21.46
Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com










