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Moderately bullish activity in Moderna with shares up 7.5%

Moderately bullish activity in Moderna (MRNA), with shares up $1.95, or 7.5%, near $27.96. Options volume relatively light with 33k contracts traded and calls leading puts for a put/call ratio of 0.38, compared to a typical level near 0.83. Implied volatility (IV30) is higher by 1.2 points near 86.61, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.53. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Moderna (MRNA) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.

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