Mixed options sentiment in PayPal (PYPL), with shares up 18c, or 0.41%, near $45.41. Options volume relatively light with 37k contracts traded and calls leading puts for a put/call ratio of 0.53, compared to a typical level near 0.41. Implied volatility (IV30) dropped 0.26 near 33.24,and below the 52wk median, suggesting an expected daily move of $0.95. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Neutral at Macquarie.
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