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Option traders moderately bearish in Oracle with shares down 5.74%

Option traders moderately bearish in Oracle (ORCL), with shares down $12.10 near $198.59. Options volume more than double the daily average with 664k contracts traded and calls leading puts for a put/call ratio of 0.98, compared to a typical level near 0.67. Implied volatility (IV30) is higher by 1.2 points near 70.2, in the highest 10% of observations over the past year, suggesting an expected daily move of $8.78. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Oracle (ORCL) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.

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