Option traders moderately bearish in Snap Inc. (SNAP), with shares down 14c near $9.34. Options volume more than double the daily average with 182k contracts traded and calls leading puts for a put/call ratio of 0.66, compared to a typical level near 0.44. Implied volatility (IV30) is higher by 0.0 points near 87.93,and above the 52wk median, suggesting an expected daily move of $0.52. Put-call skew steepened, indicating increased demand for downside protection.The company will report earnings after the close today. Option markets are pricing in a 50% probability of a move greater than 20.25% or $1.89.
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