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Option traders moderately bearish in PayPal with shares down 2.64%

Option traders moderately bearish in PayPal (PYPL), with shares down $1.08 near $39.95. Options volume nearly triple the daily average with 532k contracts traded and puts leading calls for a put/call ratio of 1.33, compared to a typical level near 0.56. Implied volatility (IV30) is higher by 0.1 points near 41.54,and above the 52wk median, suggesting an expected daily move of $1.05. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Hold at HSBC.

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