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Moderately bullish activity in Wal-Mart with shares up 0.78%

Moderately bullish activity in Wal-Mart (WMT), with shares up 78c, or 0.78%, near $101.30. Options volume relatively light with 19k contracts traded and calls leading puts for a put/call ratio of 0.56, compared to a typical level near 0.59. Implied volatility (IV30) is higher by 0.4 points near 19.16,in the bottom quartile of the past year, suggesting an expected daily move of $1.22. Put-call skew steepened, indicating increased demand for downside protection.

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