Bearish flow noted in Altria Group (MO) with 2,515 puts trading, or 1.1x expected. Most active are Jan-25 49 puts and Jan-25 54 calls, with total volume in those strikes near 900 contracts. The Put/Call Ratio is 1.60, while ATM IV is up over 1 point on the day. Earnings are expected on January 30th.
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