Option traders moderately bearish in Coinbase (COIN), with shares up $10.01, or 4.12%, near $252.99. Options volume roughly in line with average with 232k contracts traded and puts leading calls for a put/call ratio of 1.03, compared to a typical level near 0.81. Implied volatility (IV30) is higher by 2.7 points near 57.58,and below the 52wk median, suggesting an expected daily move of $9.18. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at BofA.
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