Moderately bullish activity in PayPal (PYPL), with shares up 76c, or 1.15%, near $67.50. Options volume roughly in line with average with 54k contracts traded and calls leading puts for a put/call ratio of 0.33, compared to a typical level near 0.4. Implied volatility (IV30) is higher by 0.5 points near 33.85,and above the 52wk median, suggesting an expected daily move of $1.44. Put-call skew steepened, indicating increased demand for downside protection.
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