Option traders moderately bearish in Novo Nordisk (NVO), with shares down $1.08 near $36.67. Options volume roughly in line with average with 140k contracts traded and calls leading puts for a put/call ratio of 0.76, compared to a typical level near 0.77. Implied volatility (IV30) is higher by 1.1 points near 43.04,and below the 52wk median, suggesting an expected daily move of $0.99. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Hold at Nordea.
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