Option traders moderately bearish in Novo Nordisk with shares down 16.61%

Option traders moderately bearish in Novo Nordisk (NVO), with shares down $7.88 near $39.55. Options volume nearly triple the daily average with 289k contracts traded and calls leading puts for a put/call ratio of 0.73, compared to a typical level near 0.72. Implied volatility (IV30) is higher by 4.0 points near 46.89,and above the 52wk median, suggesting an expected daily move of $1.17. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Hold at Deutsche Bank.