Moderately bullish activity in PayPal (PYPL), with shares up 22c, or 0.31%, near $70.28. Options volume roughly in line with average with 31k contracts traded and calls leading puts for a put/call ratio of 0.24, compared to a typical level near 0.46. Implied volatility (IV30) is higher by 0.2 points near 28.53,in the bottom quartile of the past year, suggesting an expected daily move of $1.26. Put-call skew steepened, indicating increased demand for downside protection.
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