Option traders moderately bearish in Uber (UBER), with shares down $1.31 near $92.44. Options volume relatively light with 36k contracts traded and calls leading puts for a put/call ratio of 0.49, compared to a typical level near 0.46. Implied volatility (IV30) is higher by 2.4 points near 34.42,in the bottom quartile of the past year, suggesting an expected daily move of $2.00. Put-call skew steepened, indicating increased demand for downside protection.
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