Option traders moderately bearish in Paramount Skydance Corp with shares down 0.81%

Option traders moderately bearish in Paramount Skydance Corp (PSKY), with shares down 12c near $14.69. Options volume relatively light with 21k contracts traded and calls leading puts for a put/call ratio of 0.66, compared to a typical level near 0.99. Implied volatility (IV30) is up nearly 17.0 points near 72.57,and above the 52wk median, suggesting an expected daily move of $0.67. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Neutral at Guggenheim.