Option traders moderately bearish in Alphabet (GOOG), with shares down 2c near $177.92. Options volume relatively light with 78k contracts traded and calls leading puts for a put/call ratio of 0.58, compared to a typical level near 0.4. Implied volatility (IV30) is higher by 0.3 points near 26.33,and below the 52wk median, suggesting an expected daily move of $2.95. Put-call skew steepened, indicating increased demand for downside protection.
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