Moderately bullish activity in Nokia with shares up 11.73%

Moderately bullish activity in Nokia (NOK), with shares up $1.54, or 11.73%, near $14.71. Options volume more than double the daily average with 1.11m contracts traded and calls leading puts for a put/call ratio of 0.2, compared to a typical level near 0.22. Implied volatility (IV30) is up nearly 11.0 points near 79.36, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.74. Put-call skew steepened, indicating increased demand for downside protection.