Mixed options sentiment in Avis Budget (CAR), with shares up $1.08, or 0.6%, near $181.75. Options volume relatively light with 44k contracts traded and puts leading calls for a put/call ratio of 1.84, compared to a typical level near 1.73. Implied volatility (IV30) dropped 12.15 near 77.4,in the top quartile of the past year, suggesting an expected daily move of $8.86. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Hold at Jefferies.
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Read More on CAR:
- Avis Budget price target lowered to $125 from $128 at Deutsche Bank
- Avis Budget price target lowered to $140 from $165 at JPMorgan
- Jefferies downgrades Avis to Hold on ‘technical overhangs’
- Avis Budget downgraded to Hold from Buy at Jefferies
- Mixed options sentiment in Avis Budget with shares up 5.27%