Option traders moderately bearish in Palantir Technologies with shares down 3.96%

Option traders moderately bearish in Palantir Technologies (PLTR), with shares down $5.71 near $138.54. Options volume running well above average with 1.05m contracts traded and calls leading puts for a put/call ratio of 0.51, compared to a typical level near 0.63. Implied volatility (IV30) is higher by 3.0 points near 51.64,in the bottom quartile of the past year, suggesting an expected daily move of $4.51. Put-call skew steepened, indicating increased demand for downside protection.