Option traders moderately bearish in Coinbase (COIN), with shares down $13.91 near $227.24. Options volume relatively light with 127k contracts traded and calls leading puts for a put/call ratio of 0.43, compared to a typical level near 0.9. Implied volatility (IV30) is higher by 2.9 points near 60.94,and below the 52wk median, suggesting an expected daily move of $8.72. Put-call skew steepened, indicating increased demand for downside protection.
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