Moderately bullish activity in Rivian with shares up 1.95%

Moderately bullish activity in Rivian (RIVN), with shares up 26c, or 1.95%, near $13.84. Options volume relatively light with 75k contracts traded and calls leading puts for a put/call ratio of 0.32, compared to a typical level near 0.5. Implied volatility (IV30) is higher by 3.8 points near 53.26,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.46. Put-call skew steepened, indicating increased demand for downside protection.