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Mixed options sentiment in PayPal with shares up 1.32%

Mixed options sentiment in PayPal (PYPL), with shares up 52c, or 1.32%, near $40.42. Options volume roughly in line with average with 231k contracts traded and calls leading puts for a put/call ratio of 0.41, compared to a typical level near 0.61. Implied volatility (IV30) dropped 3.42 near 38.12,and above the 52wk median, suggesting an expected daily move of $0.97. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Hold at HSBC.

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