Moderately bullish activity in Arm Holdings PLC with shares up 3.13%

Moderately bullish activity in Arm Holdings PLC (ARM), with shares up $3.27, or 3.13%, near $107.83. Options volume roughly in line with average with 68k contracts traded and calls leading puts for a put/call ratio of 0.7, compared to a typical level near 1.27. Implied volatility (IV30) is higher by 1.4 points near 63.71,in the top quartile of the past year, suggesting an expected daily move of $4.33. Put-call skew steepened, indicating increased demand for downside protection.The company will report earnings after the close today. Option markets are pricing in a 50% probability of a move greater than 10.39% or $11.20.