Option traders moderately bearish in Pfizer (PFE), with shares down 20c near $27.25. Options volume running well above average with 134k contracts traded and puts leading calls for a put/call ratio of 1.63, compared to a typical level near 0.65. Implied volatility (IV30) is higher by 1.7 points near 27.21,in the top quartile of the past year, suggesting an expected daily move of $0.47. Put-call skew flattened, suggesting a modestly bullish tone.
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