Bearish flow noted in 3M with 7,599 puts trading, or 1.2x expected. Most active are Aug-23 105 puts and Jan-24 120 puts, with total volume in those strikes near 1,700 contracts. The Put/Call Ratio is 1.89, while ATM IV is up over 3 points on the day. Earnings are expected on April 25th.
Published first on TheFly
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