Moderately bullish activity in Novo Nordisk (NVO), with shares up 68c, or 1.16%, near $59.70. Options volume relatively light with 42k contracts traded and calls leading puts for a put/call ratio of 0.52, compared to a typical level near 0.56. Implied volatility (IV30) dropped 0.49 near 63.74, in the highest 10% of observations over the past year, suggesting an expected daily move of $2.40. Put-call skew flattened, suggesting a modestly bullish tone, following an upgrade to Buy at HSBC .
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