Skyworks (SWKS) put volume and volatility elevated on downgrade

Skyworks (Nasdaq: SWKS) was downgraded to Hold from Buy at Deutsche Bank citing the company's market share loss, pricing pressure in China and integration issues. Puts are active on total put volume of 27K contracts (7K calls). July put option implied volatility is at 54, August is at 59; compared to its 26-week average of 46 according to Track Data. Elevated volume and volatility suggesting traders taking positions for larger price movement.

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