Option traders moderately bearish in UPS (UPS), with shares down 88c near $86.06. Options volume roughly in line with average with 24k contracts traded and calls leading puts for a put/call ratio of 0.47, compared to a typical level near 0.72. Implied volatility (IV30) is higher by 0.9 points near 27.31,and above the 52wk median, suggesting an expected daily move of $1.48. Put-call skew steepened, indicating increased demand for downside protection.
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