Permian Resources (PR, Financial) has witnessed a significant surge in bullish options trading activity. An impressive total of 2,820 call options have been traded, which is 1.9 times the anticipated level, leading to an increase in implied volatility by over 11 points to reach 81.74%.
The most actively traded options include the November 2025 $11 calls and the May 2025 $12 calls, with a combined trading volume approaching 3,600 contracts. This heightened activity has resulted in a low Put/Call Ratio of 0.09, indicating a strong market sentiment favoring call options over puts.
Investors are likely positioning themselves ahead of Permian Resources' upcoming earnings announcement, which is scheduled for May 7th. This strategic positioning suggests anticipation of potential positive developments for the company's stock in the near future.