Mixed options sentiment in Rivian with shares up 1.25%

Mixed options sentiment in Rivian (RIVN), with shares up 17c, or 1.25%, near $13.74. Options volume relatively light with 72k contracts traded and calls leading puts for a put/call ratio of 0.34, compared to a typical level near 0.59. Implied volatility (IV30) dropped 0.68 near 55.48,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.48. Put-call skew steepened, indicating increased demand for downside protection.