Moderately bullish activity in Reddit Inc with shares up 7.63%

Moderately bullish activity in Reddit Inc (RDDT), with shares up $11.40, or 7.63%, near $160.73. Options volume nearly triple the daily average with 204k contracts traded and calls leading puts for a put/call ratio of 0.52, compared to a typical level near 0.51. Implied volatility (IV30) is higher by 5.2 points near 86.88,in the top quartile of the past year, suggesting an expected daily move of $8.80. Put-call skew steepened, indicating increased demand for downside protection.The company will report earnings after the close today. Option markets are pricing in a 50% probability of a move greater than 15.62% or $25.10.