Mixed options sentiment in Coinbase (COIN), with shares down $2.85 near $193.04. Options volume running well above average with 87k contracts traded and calls leading puts for a put/call ratio of 0.5, compared to a typical level near 0.77. Implied volatility (IV30) dropped 0.98 near 76.71, in the highest 10% of observations over the past year, suggesting an expected daily move of $9.33. Put-call skew steepened, indicating increased demand for downside protection.
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