Bearish flow noted in Academy Sports and Outdoors with 1,428 puts trading, or 1.4x expected. Most active are Jun-23 40 puts and 5/12 weekly 58 puts, with total volume in those strikes near 860 contracts. The Put/Call Ratio is 1.88, while ATM IV is up over 3 points on the day. Earnings are expected on June 6th.
Published first on TheFly
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