Option traders moderately bearish in Delta Air Lines (DAL), with shares up 16c, or 0.22%, near $73.27. Options volume relatively light with 2245 contracts traded and puts leading calls for a put/call ratio of 1.4, compared to a typical level near 1.16. Implied volatility (IV30) is higher by 1.2 points near 44.07,and above the 52wk median, suggesting an expected daily move of $2.03. Put-call skew steepened, indicating increased demand for downside protection.
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