In theory, every oval should have some, but some show it more than others and pictures usually make the bow-tie look allot worse (because pictures are static and magnified... and perhaps other quirks helps).
Both more or less than this is feasible ... easy to find less prominent ones, IMO.
Sometimes the bow-tie in an oval looks much like a pair of ''arrows'' in a H&A round diamond. And for all the good reasons - the optical effect is similar - depending on the proportions of the oval. I don''t think these is any rule about this being good or bad. Ovals without bow tie at all barely exist, and you may not like what it takes to completely obliterate the effect (either an overly deep or very flat cut, or some other style of cutting than ''oval modified brilliant'').
Hope the 2c helps
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