Options volume is relatively light, with 81k contracts traded and calls leading puts for a put/call ratio of 0.94, compared to a typical level near 0.86. Implied volatility (IV30) dropped 8.08 to 265.46, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.62. Put-call skew steepened, indicating increased demand for downside protection. following a downgrade to Sell at Citi.
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