Option traders moderately bearish in Alphabet Class A (GOOGL), with shares down $3.33 near $209.57. Options volume roughly in line with average with 112k contracts traded and calls leading puts for a put/call ratio of 0.62, compared to a typical level near 0.5. Implied volatility (IV30) is higher by 0.2 points near 31.2,and above the 52wk median, suggesting an expected daily move of $4.12. Put-call skew steepened, indicating increased demand for downside protection.
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