Bearish options flow identified in Wal-Mart (WMT), with shares down 75c near $111.85. Options volume roughly in line with average with 81k contracts traded and puts leading calls for a put/call ratio of 1.49, compared to a typical level near 0.74. Implied volatility (IV30) is higher by 0.0 points near 19.48,in the bottom quartile of the past year, suggesting an expected daily move of $1.37. Put-call skew steepened, indicating increased demand for downside protection.
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