Option traders moderately bearish in Broadcom (AVGO), with shares down $2.67 near $278.27. Options volume relatively light with 65k contracts traded and calls leading puts for a put/call ratio of 0.81, compared to a typical level near 0.6. Implied volatility (IV30) is higher by 0.3 points near 37.55,in the bottom quartile of the past year, suggesting an expected daily move of $6.58. Put-call skew steepened, indicating increased demand for downside protection.
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