Option traders moderately bearish in PayPal with shares down 0.57%

Option traders moderately bearish in PayPal (PYPL), with shares down 42c near $73.16. Options volume relatively light with 42k contracts traded and calls leading puts for a put/call ratio of 0.47, compared to a typical level near 0.59. Implied volatility (IV30) is higher by 1.5 points near 29.71,and below the 52wk median, suggesting an expected daily move of $1.37. Put-call skew steepened, indicating increased demand for downside protection.