Bearish options flow identified in Micron (MU), with shares down $24.39 near $201.53. Options volume more than double the daily average with 484k contracts traded and puts leading calls for a put/call ratio of 1.14, compared to a typical level near 0.87. Implied volatility (IV30) is higher by 5.4 points near 83.0, in the highest 10% of observations over the past year, suggesting an expected daily move of $10.54. Put-call skew steepened, indicating increased demand for downside protection.
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