Bearish options flow identified in Bank of America (BAC), with shares down 14c near $44.59. Options volume roughly in line with average with 153k contracts traded and puts leading calls for a put/call ratio of 1.97, compared to a typical level near 1.01. Implied volatility (IV30) is higher by 0.8 points near 24.01,and below the 52wk median, suggesting an expected daily move of $0.67. Put-call skew steepened, indicating increased demand for downside protection.
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