Adobe (ADBE) volatility low at 31 into weak than expected revenue

Adobe (Nasdaq: ADBE) is recently down $1.51 to $33.00 in the premarket on the company reporting Q1 earnings decreasing 21%. RBC raised its rating to Sector Perform from Underperform. Overall option implied volatility of 31 is below its 26-week average of 39 according to Track Data, suggesting decreasing price movement.

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