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Option traders moderately bearish in Broadcom with shares down 2.82%

Option traders moderately bearish in Broadcom (AVGO), with shares down $10.22 near $352.32. Options volume relatively light with 168k contracts traded and calls leading puts for a put/call ratio of 0.78, compared to a typical level near 0.61. Implied volatility (IV30) is higher by 0.1 points near 46.02,and above the 52wk median, suggesting an expected daily move of $10.21. Put-call skew steepened, indicating increased demand for downside protection.

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