Option traders moderately bearish in Coca Cola with shares down 0.59%

Option traders moderately bearish in Coca Cola (KO), with shares down 42c near $71.31. Options volume relatively light with 25k contracts traded and calls leading puts for a put/call ratio of 0.81, compared to a typical level near 0.6. Implied volatility (IV30) is higher by 0.7 points near 16.71,and above the 52wk median, suggesting an expected daily move of $0.75. Put-call skew steepened, indicating increased demand for downside protection.