Moderately bullish activity in Snowflake (SNOW), with shares up $5.07, or 3.52%, near $149.05. Options volume relatively light with 20k contracts traded and calls leading puts for a put/call ratio of 0.5, compared to a typical level near 0.98. Implied volatility (IV30) is higher by 3.7 points near 65.27, in the highest 10% of observations over the past year, suggesting an expected daily move of $6.13. Put-call skew steepened, indicating increased demand for downside protection.
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