Option traders moderately bearish in Alphabet (GOOG), with shares down 54c near $305.76. Options volume roughly in line with average with 262k contracts traded and puts leading calls for a put/call ratio of 2.14, compared to a typical level near 0.66. Implied volatility (IV30) dropped 0.23 near 28.98,in the bottom quartile of the past year, suggesting an expected daily move of $5.58. Put-call skew steepened, indicating increased demand for downside protection.
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