Option traders moderately bearish in Cisco (CSCO), with shares down 16c near $65.75. Options volume relatively light with 8087 contracts traded and calls leading puts for a put/call ratio of 0.57, compared to a typical level near 0.57. Implied volatility (IV30) is higher by 0.0 points near 17.16,and below the 52wk median, suggesting an expected daily move of $0.71. Put-call skew steepened, indicating increased demand for downside protection.
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