Option traders moderately bearish in Rivian (RIVN), with shares down 27c near $13.47. Options volume more than double the daily average with 222k contracts traded and calls leading puts for a put/call ratio of 0.58, compared to a typical level near 0.53. Implied volatility (IV30) is higher by 2.8 points near 54.77,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.46. Put-call skew steepened, indicating increased demand for downside protection.
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