Moderately bullish activity in American Airlines (AAL), with shares up 30c, or 2.53%, near $11.96. Options volume roughly in line with average with 60k contracts traded and calls leading puts for a put/call ratio of 0.29, compared to a typical level near 1.19. Implied volatility (IV30) is higher by 1.8 points near 56.45,in the top quartile of the past year, suggesting an expected daily move of $0.43. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: American Airlines (AAL) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.
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