Moderately bullish activity in Nokia with shares up 0.33%

Moderately bullish activity in Nokia (NOK), with shares up 4c, or 0.33%, near $13.79. Options volume relatively light with 222k contracts traded and calls leading puts for a put/call ratio of 0.13, compared to a typical level near 0.24. Implied volatility (IV30) is higher by 2.3 points near 69.5, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.60. Put-call skew steepened, indicating increased demand for downside protection.