Option traders moderately bearish in PayPal (PYPL), with shares down $1.59 near $69.86.Options volume relatively light with 53k contracts traded and calls leading puts for a put/call ratio of 0.35, compared to a typical level near 0.51. Implied volatility (IV30) is higher by 1.6 points near 31.66,and below the 52wk median, suggesting an expected daily move of $1.39. Put-call skew steepened, indicating increased demand for downside protection.
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