Option traders moderately bearish in Meta Platforms Inc (META), with shares down $6.14 near $667.27. Options volume relatively light with 272k contracts traded and calls leading puts for a put/call ratio of 0.57, compared to a typical level near 0.57. Implied volatility (IV30) is higher by 1.4 points near 28.17,in the bottom quartile of the past year, suggesting an expected daily move of $11.84. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at Arete.
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