Moderately bullish activity in Nokia with shares up 3.34%

Moderately bullish activity in Nokia (NOK), with shares up 28c, or 3.34%, near $8.52. Options volume roughly in line with average with 17k contracts traded and calls leading puts for a put/call ratio of 0.89, compared to a typical level near 0.26. Implied volatility (IV30) dropped 0.47 near 53.41, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.29. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Hold at DNB Carnegie.