Option traders moderately bearish in Reddit Inc (RDDT), with shares down $9.01 near $232.75. Options volume running well above average with 61k contracts traded and puts leading calls for a put/call ratio of 1.47, compared to a typical level near 0.7. Implied volatility (IV30) dropped 0.37 near 62.44,in the bottom quartile of the past year, suggesting an expected daily move of $9.15. Put-call skew steepened, indicating increased demand for downside protection.
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