Mixed options sentiment in Avis Budget with shares up 1.14%

Mixed options sentiment in Avis Budget (CAR), with shares up $1.82, or 1.14%, near $161.93. Options volume relatively light with 7225 contracts traded and puts leading calls for a put/call ratio of 1.53, compared to a typical level near 1.83. Implied volatility (IV30) dropped 3.45 near 70.15,in the top quartile of the past year, suggesting an expected daily move of $7.16. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Hold at Jefferies.