Mixed options sentiment in Rivian with shares down 2.6%

Mixed options sentiment in Rivian (RIVN), with shares down 40c near $15.19. Options volume roughly in line with average with 44k contracts traded and calls leading puts for a put/call ratio of 0.4, compared to a typical level near 0.59. Implied volatility (IV30) dropped 2.78 near 61.71,and below the 52wk median, suggesting an expected daily move of $0.59. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Underperform at DA Davidson.