Option traders moderately bearish in Adobe with shares down 1.34%

Option traders moderately bearish in Adobe (ADBE), with shares down $3.27 near $241.09. Options volume relatively light with 2576 contracts traded and puts leading calls for a put/call ratio of 1.1, compared to a typical level near 1.01. Implied volatility (IV30) is higher by 1.0 points near 39.85,and above the 52wk median, suggesting an expected daily move of $6.05. Put-call skew flattened, suggesting a modestly bullish tone.