Calls Sold on Pertobras (PBR.A)

Shares of PETROLEO BRASILEIRO SA PBR are lower on the session by 4.02%, currently trading $27.94. The stock has been selling off along with the majority of oil stocks and is hitting a fresh 52-week low today. I am seeing calls sold in the name with the September $35 call sold near the bid 1,320 times; open interest on the strike is 1,387 contracts, which suggests that a long call holder more than likely sold out of their position. This suggests that PETROLEO BRASILEIRO SA may remain under pressure for some time.