Option traders moderately bearish in Meta Platforms (Facebook) (META), with shares down $3.87 near $698.25. Options volume roughly in line with average with 246k contracts traded and calls leading puts for a put/call ratio of 0.36, compared to a typical level near 0.53. Implied volatility (IV30) is higher by 1.4 points near 29.16,in the bottom quartile of the past year, suggesting an expected daily move of $12.83. Put-call skew steepened, indicating increased demand for downside protection.
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