Options volume is nearly triple the daily average, with 484k contracts traded and puts leading calls for a put/call ratio of 1.41, compared to a typical level near 0.8. Implied volatility (IV30) rose 21.69 to 264.14, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.64. Put-call skew steepened, indicating increased demand for downside protection.
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