Option traders moderately bearish in Dell Technologies with shares down 0.11%

Option traders moderately bearish in Dell Technologies (DELL), with shares down 24c near $215.85. Options volume relatively light with 19k contracts traded and calls leading puts for a put/call ratio of 0.89, compared to a typical level near 0.75. Implied volatility (IV30) is higher by 5.4 points near 64.82, in the highest 10% of observations over the past year, suggesting an expected daily move of $8.81. Put-call skew steepened, indicating increased demand for downside protection.