Option traders moderately bearish in Alphabet (GOOG), with shares down $2.12 near $175.29. Options volume roughly in line with average with 90k contracts traded and calls leading puts for a put/call ratio of 0.26, compared to a typical level near 0.42. Implied volatility (IV30) is higher by 0.7 points near 35.91,in the top quartile of the past year, suggesting an expected daily move of $3.97. Put-call skew steepened, indicating increased demand for downside protection.
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