Bearish options flow identified in Coinbase (COIN), with shares down $12.61 near $260.21. Options volume relatively light with 178k contracts traded and puts leading calls for a put/call ratio of 1.06, compared to a typical level near 1.04. Implied volatility (IV30) is higher by 4.3 points near 63.03,and below the 52wk median, suggesting an expected daily move of $10.33. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Hold at Argus.
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