Moderately bullish activity in American Airlines (AAL), with shares up 4c, or 0.34%, near $11.88. Options volume relatively light with 27k contracts traded and calls leading puts for a put/call ratio of 0.53, compared to a typical level near 0.9. Implied volatility (IV30) is higher by 0.2 points near 49.22,and below the 52wk median, suggesting an expected daily move of $0.37. Put-call skew steepened, indicating increased demand for downside protection.
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