Option traders moderately bearish in Coca Cola (KO), with shares down 40c near $70.61. Options volume roughly in line with average with 18k contracts traded and calls leading puts for a put/call ratio of 0.68, compared to a typical level near 0.62. Implied volatility (IV30) is higher by 0.2 points near 17.55,and above the 52wk median, suggesting an expected daily move of $0.78. Put-call skew steepened, indicating increased demand for downside protection.
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