Option traders moderately bearish in Apple (AAPL), with shares down $3.27 near $228.87. Options volume relatively light with 445k contracts traded and calls leading puts for a put/call ratio of 0.59, compared to a typical level near 0.56. Implied volatility (IV30) is higher by 1.7 points near 24.57,and below the 52wk median, suggesting an expected daily move of $3.54. Put-call skew steepened, indicating increased demand for downside protection.
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