Option traders moderately bearish in Netflix with shares up 1.85%

Option traders moderately bearish in Netflix (NFLX), with shares up $23.57, or 1.85%, near $1298.83. Options volume running well above average with 72k contracts traded and puts leading calls for a put/call ratio of 1.16, compared to a typical level near 0.96. Implied volatility (IV30) is higher by 0.3 points near 42.35,and above the 52wk median, suggesting an expected daily move of $34.65. Put-call skew steepened, indicating increased demand for downside protection.