Option traders moderately bearish in Lululemon (LULU), with shares up $2.38, or 1.12%, near $214.78. Options volume relatively light with 31k contracts traded and puts leading calls for a put/call ratio of 1.0, compared to a typical level near 1.84. Implied volatility (IV30) is higher by 2.4 points near 40.8,and below the 52wk median, suggesting an expected daily move of $5.52. Put-call skew steepened, indicating increased demand for downside protection.
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