Option traders moderately bearish in Alphabet Class A (GOOGL), with shares down $4.92 near $278.80. Options volume relatively light with 116k contracts traded and calls leading puts for a put/call ratio of 0.41, compared to a typical level near 0.57. Implied volatility (IV30) is higher by 0.1 points near 31.6,and above the 52wk median, suggesting an expected daily move of $5.55. Put-call skew steepened, indicating increased demand for downside protection.
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