Option traders moderately bearish in Snowflake (SNOW), with shares down 98c near $222.90. Options volume relatively light with 17k contracts traded and calls leading puts for a put/call ratio of 0.46, compared to a typical level near 0.63. Implied volatility (IV30) is higher by 0.2 points near 34.91,in the bottom quartile of the past year, suggesting an expected daily move of $4.90. Put-call skew steepened, indicating increased demand for downside protection.
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