Option traders moderately bearish in Reddit Inc (RDDT), with shares down $7.03 near $257.45. Options volume relatively light with 41k contracts traded and calls leading puts for a put/call ratio of 0.61, compared to a typical level near 0.7. Implied volatility (IV30) is higher by 2.6 points near 70.78,and above the 52wk median, suggesting an expected daily move of $11.48. Put-call skew steepened, indicating increased demand for downside protection.
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