Moderately bullish activity in Pfizer with shares up 0.82%

Moderately bullish activity in Pfizer (PFE), with shares up 22c, or 0.82%, near $27.79. Options volume roughly in line with average with 70k contracts traded and calls leading puts for a put/call ratio of 0.4, compared to a typical level near 0.55. Implied volatility (IV30) is higher by 0.6 points near 26.24,and above the 52wk median, suggesting an expected daily move of $0.46. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Pfizer (PFE) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.