Option traders moderately bearish in NVIDIA (NVDA), with shares down $5.01 near $169.87. Options volume roughly in line with average with 1.86m contracts traded and calls leading puts for a put/call ratio of 0.57, compared to a typical level near 0.61. Implied volatility (IV30) is higher by 1.9 points near 36.66,in the bottom quartile of the past year, suggesting an expected daily move of $3.92. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at DA Davidson.
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