Option traders moderately bearish in Snowflake (SNOW), with shares down 23c near $222.91. Options volume relatively light with 12k contracts traded and calls leading puts for a put/call ratio of 0.25, compared to a typical level near 0.52. Implied volatility (IV30) is higher by 1.9 points near 31.94,in the lowest 10% of observations over the past year, suggesting an expected daily move of $4.48. Put-call skew steepened, indicating increased demand for downside protection.
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