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Moderately bullish activity in PayPal with shares up 3.51%

Moderately bullish activity in PayPal (PYPL), with shares up $2.38, or 3.51%, near $70.36. Options volume roughly in line with average with 82k contracts traded and calls leading puts for a put/call ratio of 0.39, compared to a typical level near 0.5. Implied volatility (IV30) is higher by 0.9 points near 27.49,in the lowest 10% of observations over the past year, suggesting an expected daily move of $1.22. Put-call skew steepened, indicating increased demand for downside protection.

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