Option traders moderately bearish in Arm Holdings PLC (ARM), with shares down $3.22 near $122.06. Options volume relatively light with 29k contracts traded and calls leading puts for a put/call ratio of 0.76, compared to a typical level near 1.2. Implied volatility (IV30) is higher by 4.6 points near 55.94,and above the 52wk median, suggesting an expected daily move of $4.30. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at New Street.
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