$I Looking ahead to the end of February - We are seeing a typical IV reverse skew across multiple expiration dates and IV is climbing as we get lower in strike prices, this is mostly from institution and investors buying puts and selling calls for more downside protection after the price collapsed to $5.55 . The exception -> 14Feb strike prices IV as shown below are considerably "out of whack" . This shows some 1) bullish behavior due to purchasing of higher strike prices ($10 and $11.5 in this case) driving the price and IV of these contracts up. 7Feb is showing similar characteristics but at the 200% IV level. You can play this either way - make directional bets OR take advantage of the extreme high volatility and sell spreads and make money off of theta decay. GOOD LUCK !
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