Option traders moderately bearish in Alphabet Class A (GOOGL), with shares down $2.22 near $244.32. Options volume relatively light with 374k contracts traded and calls leading puts for a put/call ratio of 0.61, compared to a typical level near 0.64. Implied volatility (IV30) is higher by 4.8 points near 37.2,in the top quartile of the past year, suggesting an expected daily move of $5.73. Put-call skew steepened, indicating increased demand for downside protection.
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