{"id":66528,"date":"2026-03-12T02:00:39","date_gmt":"2026-03-12T07:00:39","guid":{"rendered":"https:\/\/www.tradestation.com\/insights\/?p=66528"},"modified":"2026-03-12T07:41:12","modified_gmt":"2026-03-12T12:41:12","slug":"options-action-petrobras-calls","status":"publish","type":"post","link":"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/","title":{"rendered":"Options Action: Calls Surge in Brazilian Oil Driller"},"content":{"rendered":"<p>Petrobras has been rallying, and options traders could be following the move.<\/p>\n<p>Heavy call volumes were detected yesterday in the Brazilian oil driller. Two contracts were especially active:<\/p>\n<ul>\n<li>The January 22 calls traded early in the session for $1.40. Premiums rose as the stock climbed, reaching $1.53 by the afternoon. Volume exceeded 31,000 contracts, almost quadruple open interest at that strike. Most of the blocks priced closer to the ask price than the bid, which suggests they were bought.<\/li>\n<li>More than 25,000 June 20 calls changed hands as well. Premiums rose from $0.84 to $1.08. Turnover was more than 5 times open interest. Their pricing was also consistent with buying.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.tradestation.com\/insights\/2025\/09\/21\/the-basics-of-options-2\/\">Calls<\/a> fix the price where a security can be purchased. They can appreciate when shares climb, giving investors leverage compared with the underlying security. Calls can also expire worthless if the stock never reaches the strike price.<\/p>\n<div id=\"attachment_66532\" style=\"width: 1930px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-66532\" class=\"size-full wp-image-66532\" src=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/PBR_20260311.jpg\" alt=\"\" width=\"1920\" height=\"918\" srcset=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/PBR_20260311.jpg 1920w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/PBR_20260311-300x143.jpg 300w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/PBR_20260311-1024x490.jpg 1024w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/PBR_20260311-768x367.jpg 768w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/PBR_20260311-1536x734.jpg 1536w, https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/PBR_20260311-1080x516.jpg 1080w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/><p id=\"caption-attachment-66532\" class=\"wp-caption-text\"><em>Petrobras (PBR), daily chart, with select patterns and indicators.<\/em><\/p><\/div>\n<p>PBR rose 5.6 percent to $18.99, its highest closing price in more than 11 years. The stock is up 60 percent this year, following gains in the broader energy sector. Some investors have also identified PBR as a value stock because it trades at about 5 times earnings. The 8 percent dividend yield is also higher than most other large companies.<\/p>\n<p>Wednesday&#8217;s call volume was the most in over a year and accounted for 78 percent of the total, according to TradeStation data. Total options activity was more than triple the daily average.<\/p>\n<div>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<\/div>\n<p><em>Options trading is not suitable for all investors. Your TradeStation Securities\u2019 account application to trade options will be considered and approved or disapproved based on all relevant factors, including your trading experience. See\u00a0<a href=\"https:\/\/www.theocc.com\/Company-Information\/Documents-and-Archives\/Options-Disclosure-Document\">www.TradeStation.com\/DisclosureOptions<\/a>. Visit\u00a0<a href=\"http:\/\/www.tradestation.com\/Pricing\">www.TradeStation.com\/Pricing<\/a> for full details on the costs and fees associated with options.<\/em><\/p>\n<p><em>Margin trading involves risks, and it is important that you fully understand those risks before trading on margin. The Margin Disclosure Statement outlines many of those risks, including that you can lose more funds than you deposit in your margin account; your brokerage firm can force the sale of securities in your account; your brokerage firm can sell your securities without contacting you; and you are not entitled to an extension of time on a margin call. Review the\u00a0Margin Disclosure Statement at\u00a0<a href=\"https:\/\/cdn.tradestation.com\/uploads\/margin-disclosure-statement.pdf\">www.TradeStation.com\/DisclosureMargin<\/a><\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Petrobras has been rallying, and options traders could to be following the move.<\/p>\n","protected":false},"author":39,"featured_media":66530,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[27,14],"tags":[588],"class_list":["post-66528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-options","tag-pbr","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Options Action: Calls Surge in Brazilian Oil Driller<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Options Action: Calls Surge in Brazilian Oil Driller\" \/>\n<meta property=\"og:description\" content=\"Petrobras has been rallying, and options traders could to be following the move.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Insights\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeStation\/\" \/>\n<meta property=\"article:published_time\" content=\"2026-03-12T07:00:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-03-12T12:41:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/rio_brazil_243290527_BTT.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"David Russell\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Options Action: Calls Surge in Brazilian Oil Driller\" \/>\n<meta name=\"twitter:description\" content=\"Petrobras has been rallying, and options traders could to be following the move.\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeStation\" \/>\n<meta name=\"twitter:site\" content=\"@TradeStation\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"David Russell\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/\",\"url\":\"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/\",\"name\":\"Options Action: Calls Surge in Brazilian Oil Driller\",\"isPartOf\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/rio_brazil_243290527_BTT.jpg\",\"datePublished\":\"2026-03-12T07:00:39+00:00\",\"dateModified\":\"2026-03-12T12:41:12+00:00\",\"author\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/d2279ba57f90e3b47887f2503ce142d4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/#primaryimage\",\"url\":\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/rio_brazil_243290527_BTT.jpg\",\"contentUrl\":\"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/rio_brazil_243290527_BTT.jpg\",\"width\":1920,\"height\":1080},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.tradestation.com\/insights\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Options Action: Calls Surge in Brazilian Oil Driller\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/#website\",\"url\":\"https:\/\/www.tradestation.com\/insights\/\",\"name\":\"Market Insights\",\"description\":\"Fresh market commentary and actionable trade ideas.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.tradestation.com\/insights\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/d2279ba57f90e3b47887f2503ce142d4\",\"name\":\"David Russell\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/443bdca82f0006231c5179581e4310ed?s=96&d=mm&r=pg\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/443bdca82f0006231c5179581e4310ed?s=96&d=mm&r=pg\",\"caption\":\"David Russell\"},\"description\":\"David Russell is Global Head of Market Strategy at TradeStation. Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories \u2013 especially those overlooked by other commentators. He\u2019s also a big fan of generating leverage with options to limit capital at risk.\",\"url\":\"https:\/\/www.tradestation.com\/insights\/author\/drussell\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Options Action: Calls Surge in Brazilian Oil Driller","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/","og_locale":"en_US","og_type":"article","og_title":"Options Action: Calls Surge in Brazilian Oil Driller","og_description":"Petrobras has been rallying, and options traders could to be following the move.","og_url":"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/","og_site_name":"Market Insights","article_publisher":"https:\/\/www.facebook.com\/TradeStation\/","article_published_time":"2026-03-12T07:00:39+00:00","article_modified_time":"2026-03-12T12:41:12+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/rio_brazil_243290527_BTT.jpg","type":"image\/jpeg"}],"author":"David Russell","twitter_card":"summary_large_image","twitter_title":"Options Action: Calls Surge in Brazilian Oil Driller","twitter_description":"Petrobras has been rallying, and options traders could to be following the move.","twitter_creator":"@TradeStation","twitter_site":"@TradeStation","twitter_misc":{"Written by":"David Russell","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/","url":"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/","name":"Options Action: Calls Surge in Brazilian Oil Driller","isPartOf":{"@id":"https:\/\/www.tradestation.com\/insights\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/#primaryimage"},"image":{"@id":"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/#primaryimage"},"thumbnailUrl":"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/rio_brazil_243290527_BTT.jpg","datePublished":"2026-03-12T07:00:39+00:00","dateModified":"2026-03-12T12:41:12+00:00","author":{"@id":"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/d2279ba57f90e3b47887f2503ce142d4"},"breadcrumb":{"@id":"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/#primaryimage","url":"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/rio_brazil_243290527_BTT.jpg","contentUrl":"https:\/\/cdn.tradestation.com\/uploads\/sites\/2\/rio_brazil_243290527_BTT.jpg","width":1920,"height":1080},{"@type":"BreadcrumbList","@id":"https:\/\/www.tradestation.com\/insights\/2026\/03\/12\/options-action-petrobras-calls\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.tradestation.com\/insights\/"},{"@type":"ListItem","position":2,"name":"Options Action: Calls Surge in Brazilian Oil Driller"}]},{"@type":"WebSite","@id":"https:\/\/www.tradestation.com\/insights\/#website","url":"https:\/\/www.tradestation.com\/insights\/","name":"Market Insights","description":"Fresh market commentary and actionable trade ideas.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.tradestation.com\/insights\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/d2279ba57f90e3b47887f2503ce142d4","name":"David Russell","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tradestation.com\/insights\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/443bdca82f0006231c5179581e4310ed?s=96&d=mm&r=pg","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/443bdca82f0006231c5179581e4310ed?s=96&d=mm&r=pg","caption":"David Russell"},"description":"David Russell is Global Head of Market Strategy at TradeStation. Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories \u2013 especially those overlooked by other commentators. He\u2019s also a big fan of generating leverage with options to limit capital at risk.","url":"https:\/\/www.tradestation.com\/insights\/author\/drussell\/"}]}},"_links":{"self":[{"href":"https:\/\/www.tradestation.com\/insights\/wp-json\/wp\/v2\/posts\/66528"}],"collection":[{"href":"https:\/\/www.tradestation.com\/insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.tradestation.com\/insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.tradestation.com\/insights\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/www.tradestation.com\/insights\/wp-json\/wp\/v2\/comments?post=66528"}],"version-history":[{"count":6,"href":"https:\/\/www.tradestation.com\/insights\/wp-json\/wp\/v2\/posts\/66528\/revisions"}],"predecessor-version":[{"id":66536,"href":"https:\/\/www.tradestation.com\/insights\/wp-json\/wp\/v2\/posts\/66528\/revisions\/66536"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.tradestation.com\/insights\/wp-json\/wp\/v2\/media\/66530"}],"wp:attachment":[{"href":"https:\/\/www.tradestation.com\/insights\/wp-json\/wp\/v2\/media?parent=66528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.tradestation.com\/insights\/wp-json\/wp\/v2\/categories?post=66528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.tradestation.com\/insights\/wp-json\/wp\/v2\/tags?post=66528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}