Option traders moderately bearish in Dell Technologies with shares down 0.58%

Option traders moderately bearish in Dell Technologies (DELL), with shares down $1.25 near $213.40. Options volume roughly in line with average with 53k contracts traded and calls leading puts for a put/call ratio of 0.87, compared to a typical level near 0.76. Implied volatility (IV30) is higher by 1.0 points near 59.17,in the top quartile of the past year, suggesting an expected daily move of $7.95. Put-call skew steepened, indicating increased demand for downside protection.