Mixed options sentiment in Cipher Mining (CIFR), with shares up 38c, or 1.97%, near $19.45. Options volume running well above average with 241k contracts traded and calls leading puts for a put/call ratio of 0.69, compared to a typical level near 0.26. Implied volatility (IV30) dropped 0.84 near 151.57, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.86. Put-call skew steepened, indicating increased demand for downside protection.
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