Mixed options sentiment in Rivian (RIVN), with shares down 3c near $17.58. Options volume relatively light with 47k contracts traded and calls leading puts for a put/call ratio of 0.7, compared to a typical level near 0.4. Implied volatility (IV30) dropped 0.04 near 67.41,and above the 52wk median, suggesting an expected daily move of $0.75. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Underweight at Morgan Stanley.
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