Option traders moderately bearish in American Airlines (AAL), with shares down 12c near $11.46. Options volume running well above average with 176k contracts traded and puts leading calls for a put/call ratio of 1.33, compared to a typical level near 1.15. Implied volatility (IV30) dropped 3.19 near 51.28,and above the 52wk median, suggesting an expected daily move of $0.37. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: American Airlines (AAL) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.
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