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Option traders moderately bearish in Pfizer with shares down 2.5%

Option traders moderately bearish in Pfizer (PFE), with shares down 70c near $27.14. Options volume running well above average with 137k contracts traded and puts leading calls for a put/call ratio of 1.11, compared to a typical level near 0.56. Implied volatility (IV30) is higher by 1.0 points near 26.96,in the top quartile of the past year, suggesting an expected daily move of $0.46. Put-call skew flattened, suggesting a modestly bullish tone.

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