Option traders moderately bearish in Bank of America (BAC), with shares down 4c near $48.05. Options volume roughly in line with average with 40k contracts traded and calls leading puts for a put/call ratio of 0.72, compared to a typical level near 0.87. Implied volatility (IV30) is higher by 1.1 points near 23.89,and below the 52wk median, suggesting an expected daily move of $0.72. Put-call skew steepened, indicating increased demand for downside protection.
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