Option traders moderately bearish in Target (TGT), with shares down $3.06 near $92.92. Options volume roughly in line with average with 42k contracts traded and calls leading puts for a put/call ratio of 0.83, compared to a typical level near 0.96. Implied volatility (IV30) is higher by 2.3 points near 30.93,and below the 52wk median, suggesting an expected daily move of $1.81. Put-call skew steepened, indicating increased demand for downside protection.
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