Option traders moderately bearish in Uber (UBER), with shares down 2c near $73.89. Options volume roughly in line with average with 49k contracts traded and puts leading calls for a put/call ratio of 1.19, compared to a typical level near 0.76. Implied volatility (IV30) dropped 1.44 near 35.36,and below the 52wk median, suggesting an expected daily move of $1.65. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Outperform at Citizens.
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