Option traders moderately bearish in Broadcom with shares down 2.89%

Option traders moderately bearish in Broadcom (AVGO), with shares down $10.39 near $349.61. Options volume roughly in line with average with 102k contracts traded and calls leading puts for a put/call ratio of 0.58, compared to a typical level near 0.74. Implied volatility (IV30) is higher by 1.3 points near 39.53,in the bottom quartile of the past year, suggesting an expected daily move of $8.71. Put-call skew steepened, indicating increased demand for downside protection.