Mixed options sentiment in Eli Lilly (LLY), with shares up $6.54, or 0.67%, near $988.76. Options volume relatively light with 13k contracts traded and calls leading puts for a put/call ratio of 0.95, compared to a typical level near 0.69. Implied volatility (IV30) dropped 0.36 near 29.29,in the bottom quartile of the past year, suggesting an expected daily move of $18.24. Put-call skew steepened, indicating increased demand for downside protection.
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