Moderately bullish activity in Verizon (VZ), with shares up 60c, or 1.49%, near $41.27. Options volume roughly in line with average with 49k contracts traded and calls leading puts for a put/call ratio of 0.4, compared to a typical level near 0.42. Implied volatility (IV30) is higher by 1.4 points near 15.47,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.40. Put-call skew steepened, indicating increased demand for downside protection.
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