Option traders moderately bearish in Coinbase (COIN), with shares down $9.03 near $162.32. Options volume relatively light with 59k contracts traded and calls leading puts for a put/call ratio of 0.8, compared to a typical level near 1.36. Implied volatility (IV30) is higher by 3.8 points near 70.53,in the top quartile of the past year, suggesting an expected daily move of $7.21. Put-call skew steepened, indicating increased demand for downside protection.
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