Mixed options sentiment in Bank of America (BAC), with shares up 57c, or 1.21%, near $48.05. Options volume relatively light with 74k contracts traded and calls leading puts for a put/call ratio of 0.72, compared to a typical level near 1.0. Implied volatility (IV30) dropped 0.0 near 20.41,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.62. Put-call skew steepened, indicating increased demand for downside protection.
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