Option traders moderately bearish in Intuit (INTU), with shares up $2.70, or 0.61%, near $443.15. Options volume relatively light with 3395 contracts traded and puts leading calls for a put/call ratio of 1.74, compared to a typical level near 8.44. Implied volatility (IV30) is higher by 0.4 points near 49.09, in the highest 10% of observations over the past year, suggesting an expected daily move of $13.70. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at Rothschild & Co Redburn.
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