Mixed options sentiment in Tesla (TSLA), with shares down $5.72 near $315.48. Options volume relatively light with 1.40m contracts traded and calls leading puts for a put/call ratio of 0.72, compared to a typical level near 0.85. Implied volatility (IV30) dropped 0.24 near 46.04,in the lowest 10% of observations over the past year, suggesting an expected daily move of $9.15. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Hold at China Renaissance.
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