Mixed options sentiment in Cipher Mining (CIFR), with shares down 48c near $19.21. Options volume relatively light with 46k contracts traded and calls leading puts for a put/call ratio of 0.32, compared to a typical level near 0.46. Implied volatility (IV30) dropped 3.7 near 115.12,and above the 52wk median, suggesting an expected daily move of $1.39. Put-call skew steepened, indicating increased demand for downside protection.
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