Moderately bullish activity in Wolfspeed with shares up 50.69%

Moderately bullish activity in Wolfspeed (WOLF), with shares up 39c, or 50.69%, near $1.17. Options volume more than double the daily average with 182k contracts traded and calls leading puts for a put/call ratio of 0.47, compared to a typical level near 1.11. Implied volatility (IV30) is up nearly 84.0 points near 369.24, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.27. Put-call skew steepened, indicating increased demand for downside protection.