Mixed options sentiment in PayPal with shares down 19.74%

Mixed options sentiment in PayPal (PYPL), with shares down $10.33 near $42.00. Options volume extremely heavy with 849k contracts traded and calls leading puts for a put/call ratio of 0.72, compared to a typical level near 0.55. Implied volatility (IV30) dropped 10.04 near 40.13,and above the 52wk median, suggesting an expected daily move of $1.06. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Sell at Rothschild & Co Redburn.The company announced earnings before the open on 2026-02-03with option markets having priced in a move of approximately 11.38%.