Moderately bullish activity in Novo Nordisk (NVO), with shares down 68c near $54.81. Options volume running well above average with 32k contracts traded and calls leading puts for a put/call ratio of 0.72, compared to a typical level near 0.59. Implied volatility (IV30) is higher by 1.5 points near 50.23,in the top quartile of the past year, suggesting an expected daily move of $1.73. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Underweight at Morgan Stanley.
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