Option traders moderately bearish in Target (TGT), with shares down 99c near $96.14. Options volume relatively light with 30k contracts traded and puts leading calls for a put/call ratio of 1.34, compared to a typical level near 0.88. Implied volatility (IV30) dropped 1.47 near 28.4,and below the 52wk median, suggesting an expected daily move of $1.72. Put-call skew steepened, indicating increased demand for downside protection.
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