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Option traders moderately bearish in Alphabet Class A with shares down 3.22%

Option traders moderately bearish in Alphabet Class A (GOOGL), with shares down $9.18 near $275.57. Options volume roughly in line with average with 274k contracts traded and calls leading puts for a put/call ratio of 0.54, compared to a typical level near 0.56. Implied volatility (IV30) is higher by 1.2 points near 34.22,and above the 52wk median, suggesting an expected daily move of $5.94. Put-call skew steepened, indicating increased demand for downside protection.

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