Option traders moderately bearish in Alphabet with shares down 0.15%

Option traders moderately bearish in Alphabet (GOOG), with shares down 30c near $201.78. Options volume relatively light with 107k contracts traded and calls leading puts for a put/call ratio of 0.67, compared to a typical level near 0.46. Implied volatility (IV30) is higher by 0.2 points near 30.11,and above the 52wk median, suggesting an expected daily move of $3.83. Put-call skew steepened, indicating increased demand for downside protection.