Option traders moderately bearish in American Airlines with shares up 0.65%

Option traders moderately bearish in American Airlines (AAL), with shares up 8c, or 0.65%, near $11.57. Options volume running well above average with 59k contracts traded and puts leading calls for a put/call ratio of 1.81, compared to a typical level near 0.99. Implied volatility (IV30) is higher by 0.7 points near 37.44,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.27. Put-call skew steepened, indicating increased demand for downside protection.