Option traders moderately bearish in Applovin (APP), with shares down $20.12 near $324.25. Options volume running well above average with 90k contracts traded and calls leading puts for a put/call ratio of 0.93, compared to a typical level near 0.6. Implied volatility (IV30) is higher by 2.5 points near 61.65,in the bottom quartile of the past year, suggesting an expected daily move of $12.59. Put-call skew steepened, indicating increased demand for downside protection.
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