Mixed options sentiment in Adobe (ADBE), with shares up $1.96, or 0.55%, near $356.12. Options volume relatively light with 12k contracts traded and calls leading puts for a put/call ratio of 0.62, compared to a typical level near 1.0. Implied volatility (IV30) dropped 0.28 near 30.29,and above the 52wk median, suggesting an expected daily move of $6.79. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Equal Weight at Morgan Stanley.
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