Option traders moderately bearish in Uber (UBER), with shares down 92c near $84.52. Options volume relatively light with 12k contracts traded and calls leading puts for a put/call ratio of 0.49, compared to a typical level near 0.59. Implied volatility (IV30) is higher by 3.1 points near 41.34,and above the 52wk median, suggesting an expected daily move of $2.20. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Sell at Melius Research.
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