Moderately bullish activity in Novo Nordisk (NVO), with shares up 8c, or 0.14%, near $62.31. Options volume running well above average with 140k contracts traded and calls leading puts for a put/call ratio of 0.3, compared to a typical level near 0.57. Implied volatility (IV30) dropped 0.14 near 52.46,in the top quartile of the past year, suggesting an expected daily move of $2.06. Put-call skew flattened, suggesting a modestly bullish tone.Looking ahead: Novo Nordisk (NVO) will report earnings before the open on 2026-02-04.Option markets are pricing in a 50% probability of a move greater than 7.73% or $4.82.
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