Option traders moderately bearish in Wal-Mart (WMT), with shares down $1.22 near $96.05. Options volume roughly in line with average with 92k contracts traded and puts leading calls for a put/call ratio of 1.04, compared to a typical level near 0.67. Implied volatility (IV30) dropped 0.04 near 20.27,and below the 52wk median, suggesting an expected daily move of $1.23. Put-call skew steepened, indicating increased demand for downside protection.
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