Option traders moderately bearish in Alphabet (GOOG), with shares down $2.98 near $306.35. Options volume relatively light with 191k contracts traded and calls leading puts for a put/call ratio of 0.44, compared to a typical level near 0.59. Implied volatility (IV30) is higher by 0.2 points near 27.91,in the bottom quartile of the past year, suggesting an expected daily move of $5.39. Put-call skew steepened, indicating increased demand for downside protection.
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