Option traders moderately bearish in Broadcom with shares down 2.32%

Option traders moderately bearish in Broadcom (AVGO), with shares down $7.23 near $304.00. Options volume roughly in line with average with 92k contracts traded and calls leading puts for a put/call ratio of 0.61, compared to a typical level near 0.75. Implied volatility (IV30) is higher by 0.6 points near 47.69,and above the 52wk median, suggesting an expected daily move of $9.13. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Broadcom (AVGO) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.