Mixed options sentiment in Wells Fargo (WFC), with shares up 94c, or 1.16%, near $81.22. Options volume roughly in line with average with 53k contracts traded and calls leading puts for a put/call ratio of 0.47, compared to a typical level near 0.79. Implied volatility (IV30) dropped 1.05 near 28.39,and above the 52wk median, suggesting an expected daily move of $1.45. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Hold at KGI Securities.
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