Option traders moderately bearish in Advanced Micro Devices with shares down 2.17%

Option traders moderately bearish in Advanced Micro Devices (AMD), with shares down $2.67 near $120.56. Options volume roughly in line with average with 381k contracts traded and calls leading puts for a put/call ratio of 0.47, compared to a typical level near 0.63. Implied volatility (IV30) is higher by 0.4 points near 40.6,in the bottom quartile of the past year, suggesting an expected daily move of $3.08. Put-call skew steepened, indicating increased demand for downside protection.