Mixed options sentiment in Alphabet Class A (GOOGL), with shares down $4.27 near $226.39. Options volume running well above average with 195k contracts traded and calls leading puts for a put/call ratio of 0.7, compared to a typical level near 0.52. Implied volatility (IV30) dropped 1.39 near 26.72,in the bottom quartile of the past year, suggesting an expected daily move of $3.81. Put-call skew steepened, indicating increased demand for downside protection.
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