Moderately bullish activity in Oracle (ORCL), with shares up $13.81, or 9.67%, near $156.63. Options volume roughly in line with average with 304k contracts traded and calls leading puts for a put/call ratio of 0.66, compared to a typical level near 1.08. Implied volatility (IV30) is higher by 5.6 points near 69.94, in the highest 10% of observations over the past year, suggesting an expected daily move of $6.90. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Hold at Melius Research.
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