Moderately bullish activity in MP Materials (MP), with shares up $1.64, or 1.72%, near $96.69. Options volume running well above average with 112k contracts traded and calls leading puts for a put/call ratio of 0.28, compared to a typical level near 0.42. Implied volatility (IV30) is higher by 6.5 points near 118.83, in the highest 10% of observations over the past year, suggesting an expected daily move of $7.24. Put-call skew steepened, indicating increased demand for downside protection.
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