Mixed options sentiment in Apple (AAPL), with shares up $2.86, or 1.45%, near $199.44. Options volume roughly in line with average with 899k contracts traded and calls leading puts for a put/call ratio of 0.71, compared to a typical level near 0.82. Implied volatility (IV30) dropped 0.34 near 25.95,and below the 52wk median, suggesting an expected daily move of $3.26. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at First Shanghai.
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