Bearish options flow identified in American Airlines with shares down 4.22%

Bearish options flow identified in American Airlines (AAL), with shares down 48c near $11.01. Options volume running well above average with 227k contracts traded and puts leading calls for a put/call ratio of 3.11, compared to a typical level near 0.94. Implied volatility (IV30) is higher by 2.1 points near 41.77,in the bottom quartile of the past year, suggesting an expected daily move of $0.29. Put-call skew steepened, indicating increased demand for downside protection.