Mixed options sentiment in Bank of America (BAC), with shares up 36c, or 0.69%, near $52.08. Options volume relatively light with 55k contracts traded and calls leading puts for a put/call ratio of 0.57, compared to a typical level near 0.71. Implied volatility (IV30) dropped 0.18 near 21.33,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.70. Put-call skew steepened, indicating increased demand for downside protection.
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