Moderately bullish activity in Cipher Mining (CIFR), with shares up 4c, or 0.37%, near $12.32. Options volume running well above average with 80k contracts traded and calls leading puts for a put/call ratio of 0.07, compared to a typical level near 0.25. Implied volatility (IV30) is higher by 4.4 points near 138.0, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.07. Put-call skew steepened, indicating increased demand for downside protection.
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