Option traders moderately bearish in Alphabet Class A (GOOGL), with shares down $4.40 near $192.13. Options volume roughly in line with average with 392k contracts traded and calls leading puts for a put/call ratio of 0.3, compared to a typical level near 0.4. Implied volatility (IV30) is higher by 1.9 points near 29.04,and below the 52wk median, suggesting an expected daily move of $3.51. Put-call skew steepened, indicating increased demand for downside protection.
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