Mixed options sentiment in Bank of America (BAC), with shares up 100c, or 1.97%, near $51.44. Options volume running well above average with 116k contracts traded and calls leading puts for a put/call ratio of 0.85, compared to a typical level near 0.75. Implied volatility (IV30) dropped 3.5 near 30.33,in the top quartile of the past year, suggesting an expected daily move of $0.98. Put-call skew steepened, indicating increased demand for downside protection.
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