Mixed options sentiment in Wells Fargo (WFC), with shares up 74c, or 0.93%, near $80.64. Options volume relatively light with 21k contracts traded and calls leading puts for a put/call ratio of 0.53, compared to a typical level near 0.78. Implied volatility (IV30) dropped 0.6 near 26.65,and below the 52wk median, suggesting an expected daily move of $1.35. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at Phillip Securities.
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