Option traders moderately bearish in Broadcom (AVGO), with shares down $3.31 near $340.62. Options volume relatively light with 172k contracts traded and puts leading calls for a put/call ratio of 1.08, compared to a typical level near 0.86. Implied volatility (IV30) dropped 0.05 near 60.18, in the highest 10% of observations over the past year, suggesting an expected daily move of $12.91. Put-call skew steepened, indicating increased demand for downside protection.
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