Option traders moderately bearish in Palantir Technologies with shares down 8.43%

Option traders moderately bearish in Palantir Technologies (PLTR), with shares down $14.66 near $159.37. Options volume more than double the daily average with 1.33m contracts traded and calls leading puts for a put/call ratio of 0.98, compared to a typical level near 0.88. Implied volatility (IV30) is higher by 7.8 points near 54.05,in the bottom quartile of the past year, suggesting an expected daily move of $5.43. Put-call skew steepened, indicating increased demand for downside protection.