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Option traders moderately bearish in Snowflake with shares down 0.48%

Option traders moderately bearish in Snowflake (SNOW), with shares down $1.11 near $229.37. Options volume relatively light with 32k contracts traded and calls leading puts for a put/call ratio of 0.33, compared to a typical level near 0.52. Implied volatility (IV30) is higher by 1.8 points near 38.09,and below the 52wk median, suggesting an expected daily move of $5.50. Put-call skew steepened, indicating increased demand for downside protection.

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