Option traders moderately bearish in Alphabet (GOOG), with shares down 80c near $241.41. Options volume roughly in line with average with 94k contracts traded and calls leading puts for a put/call ratio of 0.43, compared to a typical level near 0.67. Implied volatility (IV30) is higher by 0.8 points near 40.24, in the highest 10% of observations over the past year, suggesting an expected daily move of $6.12. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Alphabet (GOOG) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.
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