Mixed options sentiment in Pfizer (PFE), with shares up 30c, or 1.15%, near $26.00. Options volume roughly in line with average with 139k contracts traded and calls leading puts for a put/call ratio of 0.38, compared to a typical level near 0.4. Implied volatility (IV30) dropped 1.07 near 22.31,in the bottom quartile of the past year, suggesting an expected daily move of $0.37. Put-call skew steepened, indicating increased demand for downside protection.
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