Moderately bullish activity in PayPal (PYPL), with shares up 37c, or 0.62%, near $59.66. Options volume relatively light with 52k contracts traded and calls leading puts for a put/call ratio of 0.63, compared to a typical level near 0.51. Implied volatility (IV30) is higher by 2.7 points near 42.88,and above the 52wk median, suggesting an expected daily move of $1.61. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Neutral at Monness Crespi.
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