Moderately bullish activity in Arm Holdings PLC (ARM), with shares up $4.21, or 2.81%, near $154.01. Options volume more than double the daily average with 37k contracts traded and calls leading puts for a put/call ratio of 0.25, compared to a typical level near 0.7. Implied volatility (IV30) is higher by 1.2 points near 66.59,in the top quartile of the past year, suggesting an expected daily move of $6.46. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Equal Weight at Morgan Stanley.
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