Moderately bullish activity in Pfizer (PFE), with shares down 52c near $24.73. Options volume running well above average with 370k contracts traded and calls leading puts for a put/call ratio of 0.59, compared to a typical level near 0.5. Implied volatility (IV30) is higher by 0.8 points near 30.25, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.47. Put-call skew flattened, suggesting a modestly bullish tone.
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