Option traders moderately bearish in American Airlines (AAL), with shares up 1c, or 0.07%, near $14.82. Options volume relatively light with 41k contracts traded and puts leading calls for a put/call ratio of 1.35, compared to a typical level near 1.25. Implied volatility (IV30) is higher by 0.9 points near 40.83,in the bottom quartile of the past year, suggesting an expected daily move of $0.38. Put-call skew steepened, indicating increased demand for downside protection.
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