Bullish flow in PayPal (PYPL), with shares up $1.97, or 2.84%, near $71.22. Options volume more than double the daily average with 156k contracts traded and calls leading puts for a put/call ratio of 0.17, compared to a typical level near 0.38. Implied volatility (IV30) is higher by 2.5 points near 49.01, in the highest 10% of observations over the past year, suggesting an expected daily move of $2.20. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Peer Perform at Wolfe Research.
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