8/5/2024-Unusual Options Activity In COP

$COP-Bearish flow noted in ConocoPhillips (104.98 -0.79) with 8,751 puts trading, or 2x expected. The Put/Call Ratio is 1.71, while ATM IV is up nearly 6 points on the day. Earnings are expected on 10/30. The JAN 2025 90.00 Puts were being bought.