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Option traders moderately bearish in MicroStrategy with shares down 1.62%

Option traders moderately bearish in MicroStrategy (MSTR), with shares down $2.20 near $133.45. Options volume relatively light with 383k contracts traded and puts leading calls for a put/call ratio of 1.32, compared to a typical level near 1.02. Implied volatility (IV30) dropped 1.59 near 75.89,and above the 52wk median, suggesting an expected daily move of $6.38. Put-call skew steepened, indicating increased demand for downside protection.

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