Moderately bullish activity in Nokia with shares up 2.95%

Moderately bullish activity in Nokia (NOK), with shares up 30c, or 2.95%, near $10.29. Options volume roughly in line with average with 103k contracts traded and calls leading puts for a put/call ratio of 0.23, compared to a typical level near 0.28. Implied volatility (IV30) dropped 1.02 near 66.09, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.43. Put-call skew flattened, suggesting a modestly bullish tone, following an upgrade to Buy at BofA.Looking ahead: Nokia (NOK) will report earnings before the open on 2026-04-23.Option markets are pricing in a 50% probability of a move greater than 8.76% or $0.90.