Bullish flow in Qualcomm with shares up 6.48%

Bullish flow in Qualcomm (QCOM), with shares up $13.12, or 6.48%, near $215.67. Options volume extremely heavy with 561k contracts traded and calls leading puts for a put/call ratio of 0.29, compared to a typical level near 0.4. Implied volatility (IV30) is higher by 6.0 points near 69.17, in the highest 10% of observations over the past year, suggesting an expected daily move of $9.40. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Hold at DZ Bank.