Option traders moderately bearish in Snowflake (SNOW), with shares down $1.39 near $210.60. Options volume relatively light with 30k contracts traded and calls leading puts for a put/call ratio of 0.78, compared to a typical level near 0.55. Implied volatility (IV30) is higher by 0.1 points near 33.03,in the lowest 10% of observations over the past year, suggesting an expected daily move of $4.38. Put-call skew steepened, indicating increased demand for downside protection.
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