Option traders moderately bearish in Novo Nordisk (NVO), with shares down $1.02 near $37.41. Options volume roughly in line with average with 102k contracts traded and calls leading puts for a put/call ratio of 0.63, compared to a typical level near 0.74. Implied volatility (IV30) is higher by 1.5 points near 41.52,in the bottom quartile of the past year, suggesting an expected daily move of $0.98. Put-call skew steepened, indicating increased demand for downside protection.
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