Option traders moderately bearish in Wolfspeed with shares down 0.65%

Option traders moderately bearish in Wolfspeed (WOLF), with shares down 12c near $17.62. Options volume relatively light with 7291 contracts traded and puts leading calls for a put/call ratio of 30.84, compared to a typical level near 80.59. Implied volatility (IV30) is higher by 1.2 points near 84.16,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.93. Put-call skew steepened, indicating increased demand for downside protection.