Option traders moderately bearish in Super Micro (SMCI), with shares down $1.69 near $39.85. Options volume roughly in line with average with 125k contracts traded and calls leading puts for a put/call ratio of 0.81, compared to a typical level near 0.5. Implied volatility (IV30) is higher by 3.9 points near 57.13,in the lowest 10% of observations over the past year, suggesting an expected daily move of $1.43. Put-call skew steepened, indicating increased demand for downside protection.
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