Option traders moderately bearish in Cipher Mining (CIFR), with shares down 97c near $14.79. Options volume relatively light with 31k contracts traded and calls leading puts for a put/call ratio of 0.82, compared to a typical level near 0.5. Implied volatility (IV30) is higher by 2.8 points near 107.83,and below the 52wk median, suggesting an expected daily move of $1.00. Put-call skew steepened, indicating increased demand for downside protection.
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