Option traders moderately bearish in Uber with shares down 2.27%

Option traders moderately bearish in Uber (UBER), with shares down $2.17 near $93.78. Options volume roughly in line with average with 151k contracts traded and calls leading puts for a put/call ratio of 0.47, compared to a typical level near 0.46. Implied volatility (IV30) is higher by 0.4 points near 31.98,in the lowest 10% of observations over the past year, suggesting an expected daily move of $1.89. Put-call skew steepened, indicating increased demand for downside protection.