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Moderately bullish activity in Wal-Mart with shares up 0.44%

Moderately bullish activity in Wal-Mart (WMT), with shares up 42c, or 0.44%, near $98.02. Options volume relatively light with 57k contracts traded and calls leading puts for a put/call ratio of 0.73, compared to a typical level near 0.57. Implied volatility (IV30) is higher by 0.3 points near 26.76,and above the 52wk median, suggesting an expected daily move of $1.65. Put-call skew steepened, indicating increased demand for downside protection.

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