Options volume is extremely heavy, with 314k contracts traded and calls leading puts for a put/call ratio of 0.26, compared to a typical level near 0.78. Implied volatility (IV30) dropped 7.41 to 19.89,above the median, suggesting an expected daily move of $0.81. Put-call skew flattened, suggesting a modestly bullish tone.The company announced earnings after the close on 2025-05-14with option markets having priced in a move of approximately 5.82%. following a upgrade to Overweight at Wells Fargo.
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