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Option traders moderately bearish in Tesla with shares down 0.92%

Option traders moderately bearish in Tesla (TSLA), with shares down $2.96 near $320.94. Options volume relatively light with 1.07m contracts traded and calls leading puts for a put/call ratio of 0.85, compared to a typical level near 0.75. Implied volatility (IV30) is higher by 0.4 points near 44.84,in the lowest 10% of observations over the past year, suggesting an expected daily move of $9.07. Put-call skew steepened, indicating increased demand for downside protection.

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