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Mixed options sentiment in Qualcomm with shares up 3.73%

Mixed options sentiment in Qualcomm (QCOM), with shares up $6.45, or 3.73%, near $179.29. Options volume running well above average with 78k contracts traded and calls leading puts for a put/call ratio of 0.64, compared to a typical level near 0.41. Implied volatility (IV30) dropped 2.14 near 40.87,in the top quartile of the past year, suggesting an expected daily move of $4.62. Put-call skew steepened, indicating increased demand for downside protection.The company will report earnings after the close today. Option markets are pricing in a 50% probability of a move greater than 6.95% or $12.46.

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