Option traders moderately bearish in Hertz Global Holdings with shares down 4.64%

Option traders moderately bearish in Hertz Global Holdings (HTZ), with shares down 28c near $5.86. Options volume relatively light with 40k contracts traded and puts leading calls for a put/call ratio of 3.75, compared to a typical level near 0.85. Implied volatility (IV30) is higher by 0.5 points near 105.35,in the top quartile of the past year, suggesting an expected daily move of $0.39. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Neutral at Northcoast.Looking ahead: Hertz Global Holdings (HTZ) will report earnings before the open on 2026-05-07.Option markets are pricing in a 50% probability of a move greater than 12.6% or $0.74.