Paychex's (PAYX) job and wage growth is decelerating, says Tony Zhang. He discusses the bearish case for PAYX. He talks about how payroll processors have had a challenging environment to navigate. He then goes over how the risk skews to the downside for PAYX as the largest payroll processor in the world. He then demonstrates an example trade using PAYX. The trade type is a strike put spread, and the direction is bearish. Tune in to find out more about the stock market today.