Mixed options sentiment in PayPal (PYPL), with shares up 8c, or 0.13%, near $59.52. Options volume running well above average with 129k contracts traded and calls leading puts for a put/call ratio of 0.49, compared to a typical level near 0.56. Implied volatility (IV30) dropped 0.19 near 29.71,in the bottom quartile of the past year, suggesting an expected daily move of $1.11. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Neutral at Baird.
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