Bearish options flow identified in Qualcomm (QCOM), with shares down $5.33 near $160.78. Options volume relatively light with 53k contracts traded and puts leading calls for a put/call ratio of 1.18, compared to a typical level near 0.47. Implied volatility (IV30) is higher by 1.7 points near 38.3,and above the 52wk median, suggesting an expected daily move of $3.88. Put-call skew steepened, indicating increased demand for downside protection.
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