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Option traders moderately bearish in Riot Blockchain with shares up 1.63%

Option traders moderately bearish in Riot Blockchain (RIOT), with shares up 20c, or 1.63%, near $12.76. Options volume roughly in line with average with 47k contracts traded and puts leading calls for a put/call ratio of 1.59, compared to a typical level near 0.63. Implied volatility (IV30) is higher by 0.4 points near 85.58,and above the 52wk median, suggesting an expected daily move of $0.69. Put-call skew steepened, indicating increased demand for downside protection.

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