Option traders moderately bearish in Rivian with shares down 2.01%

Option traders moderately bearish in Rivian (RIVN), with shares down 30c near $14.86. Options volume relatively light with 24k contracts traded and calls leading puts for a put/call ratio of 0.3, compared to a typical level near 0.53. Implied volatility (IV30) is higher by 0.6 points near 75.37,in the top quartile of the past year, suggesting an expected daily move of $0.71. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Rivian (RIVN) will report earnings after the close on 2026-02-12.Option markets are pricing in a 50% probability of a move greater than 12.54% or $1.86.