Mixed options sentiment in Vale with shares down 1.3%

Mixed options sentiment in Vale (VALE), with shares down 18c near $14.07. Options volume relatively light with 154k contracts traded and calls leading puts for a put/call ratio of 0.82, compared to a typical level near 0.65. Implied volatility (IV30) dropped 3.56 near 27.7,and below the 52wk median, suggesting an expected daily move of $0.25. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Sector Perform at Scotiabank.