Mixed options sentiment in Bank of America (BAC), with shares down 24c near $47.99. Options volume relatively light with 40k contracts traded and calls leading puts for a put/call ratio of 0.9, compared to a typical level near 0.94. Implied volatility (IV30) is higher by 0.4 points near 20.08,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.61. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Accumulate at Phillip Securities.
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