Option traders moderately bearish in Alphabet (GOOG), with shares down $4.68 near $388.43. Options volume roughly in line with average with 56k contracts traded and calls leading puts for a put/call ratio of 0.74, compared to a typical level near 0.61. Implied volatility (IV30) is higher by 0.6 points near 32.81,and above the 52wk median, suggesting an expected daily move of $8.03. Put-call skew steepened, indicating increased demand for downside protection.
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