Mixed options sentiment in Adobe (ADBE), with shares up $1.53, or 0.43%, near $354.81. Options volume relatively light with 17k contracts traded and calls leading puts for a put/call ratio of 0.6, compared to a typical level near 1.01. Implied volatility (IV30) dropped 1.21 near 30.04,and below the 52wk median, suggesting an expected daily move of $6.71. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Equal Weight at Morgan Stanley.
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