Moderately bullish activity in Wal-Mart (WMT), with shares up 4c, or 0.05%, near $96.12. Options volume roughly in line with average with 119k contracts traded and calls leading puts for a put/call ratio of 0.48, compared to a typical level near 0.64. Implied volatility (IV30) is higher by 0.5 points near 18.52,in the bottom quartile of the past year, suggesting an expected daily move of $1.12. Put-call skew steepened, indicating increased demand for downside protection.
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