Moderately bullish activity in Eli Lilly (LLY), with shares up $18.43, or 2.7%, near $701.37. Options volume more than double the daily average with 245k contracts traded and calls leading puts for a put/call ratio of 0.29, compared to a typical level near 0.71. Implied volatility (IV30) is higher by 0.4 points near 31.1,and below the 52wk median, suggesting an expected daily move of $13.74. Put-call skew steepened, indicating increased demand for downside protection.
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