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Mixed options sentiment in Rivian with shares down 1.54%

Mixed options sentiment in Rivian (RIVN), with shares down 34c near $22.11. Options volume roughly in line with average with 184k contracts traded and calls leading puts for a put/call ratio of 0.78, compared to a typical level near 0.39. Implied volatility (IV30) dropped 8.57 near 65.4,and below the 52wk median, suggesting an expected daily move of $0.91. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Outperform at Baird.

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