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Theravance Biopharma options imply 3.2% move in share price post-earnings

Pre-earnings options volume in Theravance Biopharma (TBPH) is normal with puts leading calls 5:3. Implied volatility suggests the market is anticipating a move near 3.2%, or 0c, after results are released. Median move over the past eight quarters is 6.4%.

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