Option traders moderately bearish in American Airlines (AAL), with shares down 71c near $13.39. Options volume nearly triple the daily average with 163k contracts traded and calls leading puts for a put/call ratio of 0.75, compared to a typical level near 1.25. Implied volatility (IV30) is higher by 2.8 points near 52.98,and above the 52wk median, suggesting an expected daily move of $0.45. Put-call skew steepened, indicating increased demand for downside protection.
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