Option traders moderately bearish in Uber with shares up 0.8%

Option traders moderately bearish in Uber (UBER), with shares up 60c, or 0.8%, near $76.56. Options volume relatively light with 46k contracts traded and puts leading calls for a put/call ratio of 1.39, compared to a typical level near 1.01. Implied volatility (IV30) is higher by 0.8 points near 38.67,and above the 52wk median, suggesting an expected daily move of $1.86. Put-call skew steepened, indicating increased demand for downside protection.