Option traders moderately bearish in PayPal (PYPL), with shares down 72c near $71.54. Options volume relatively light with 6685 contracts traded and calls leading puts for a put/call ratio of 0.38, compared to a typical level near 0.57. Implied volatility (IV30) is higher by 1.3 points near 30.64,and below the 52wk median, suggesting an expected daily move of $1.38. Put-call skew steepened, indicating increased demand for downside protection.
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