Not guaranteed, but the norm.
I've never tried to buy PUTs on a big IPO but I wouldn't be surprised that there's a premium on them, if options trading is even available.
That tends to settle down ~60 days after trading, with seasonsed order flow, a realized volatility pattern, Observed volumes, open interest, liquidity in the stock (eg hedging becomes cheaper) and naturally - competition between market makers.
Wide spreads are profitable for options dealers (and you need that profit to absorb losses where risk is misjudged or the stock is unpredictable) - but if two dealers are making excess profits offering wide markets in an option, a 3rd will join and undercut them.
Source - I was a quant at a large investment bank, with ~5 years facing the Equity markets / 13 years across many desks and teams.
Here's a chart of the last 20 IPOs with their Relative Spread (Bid + Offer / Midpoint) on each successive day of trading to show the tightening of spreads over time. https://drive.google.com/file/d/1-bLekd5OonnrlEZyjRPNQYZmvnG...