Bullish flow in Qualcomm with shares up 3.15%

Bullish flow in Qualcomm (QCOM), with shares up $6.62, or 3.15%, near $216.93. Options volume roughly in line with average with 123k contracts traded and calls leading puts for a put/call ratio of 0.38, compared to a typical level near 0.37. Implied volatility (IV30) is higher by 2.8 points near 76.36, in the highest 10% of observations over the past year, suggesting an expected daily move of $10.43. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Hold at DZ Bank.