Bearish options flow identified in Wolfspeed with shares down 7.44%

Bearish options flow identified in Wolfspeed (WOLF), with shares down 12c near $1.55. Options volume relatively light with 21k contracts traded and puts leading calls for a put/call ratio of 1.22, compared to a typical level near 0.95. Implied volatility (IV30) is higher by 7.1 points near 208.36,and above the 52wk median, suggesting an expected daily move of $0.20. Put-call skew steepened, indicating increased demand for downside protection.