Mixed options sentiment in Wal-Mart with shares down 6.9%

Mixed options sentiment in Wal-Mart (WMT), with shares down $9.03 near $121.82. Options volume extremely heavy with 336k contracts traded and calls leading puts for a put/call ratio of 0.85, compared to a typical level near 0.72. Implied volatility (IV30) dropped 6.8 near 24.83,and below the 52wk median, suggesting an expected daily move of $1.91. Put-call skew flattened, suggesting a modestly bullish tone, following an upgrade to Hold at Freedom Broker.The company announced earnings before the open on 2026-05-21with option markets having priced in a move of approximately 5.62%.