Moderately bullish activity in Wells Fargo (WFC), with shares up $1.17, or 1.47%, near $80.58. Options volume roughly in line with average with 60k contracts traded and calls leading puts for a put/call ratio of 0.84, compared to a typical level near 0.72. Implied volatility (IV30) is higher by 0.3 points near 28.49,and above the 52wk median, suggesting an expected daily move of $1.45. Put-call skew steepened, indicating increased demand for downside protection.
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