Bearish flow noted in 3M with 7,440 puts trading, or 1.3x expected. Most active are Sep-23 100 puts and Jul-23 65 puts, with total volume in those strikes near 3,300 contracts. The Put/Call Ratio is 1.74, while ATM IV is up over 1 point on the day. Earnings are expected on April 25th.
Published first on TheFly
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