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Abercrombie & Fitch put volume heavy and directionally bearish

Bearish flow noted in Abercrombie & Fitch with 4,903 puts trading, or 5x expected. Most active are Oct-23 50 puts and Oct-23 55 puts, with total volume in those strikes near 3,000 contracts. The Put/Call Ratio is 9.05, while ATM IV is up over 1 point on the day. Earnings are expected on November 22nd.

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