Option traders moderately bearish in PG&E with shares down 0.62%

Option traders moderately bearish in PG&E (PCG), with shares down 10c near $15.13. Options volume running well above average with 127k contracts traded and calls leading puts for a put/call ratio of 0.31, compared to a typical level near 0.43. Implied volatility (IV30) is higher by 1.3 points near 51.83, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.49. Put-call skew steepened, indicating increased demand for downside protection.