Option traders moderately bearish in Vale with shares down 2.46%

Option traders moderately bearish in Vale (VALE), with shares down 32c near $12.90. Options volume roughly in line with average with 262k contracts traded and puts leading calls for a put/call ratio of 4.42, compared to a typical level near 0.5. Implied volatility (IV30) is higher by 2.7 points near 27.2,and below the 52wk median, suggesting an expected daily move of $0.22. Put-call skew flattened, suggesting a modestly bullish tone.