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Option traders moderately bearish in Apple with shares down 1.37%

Option traders moderately bearish in Apple (AAPL), with shares down $3.50 near $252.26. Options volume roughly in line with average with 354k contracts traded and calls leading puts for a put/call ratio of 0.55, compared to a typical level near 0.67. Implied volatility (IV30) is higher by 0.4 points near 28.78,and above the 52wk median, suggesting an expected daily move of $4.57. Put-call skew steepened, indicating increased demand for downside protection.

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