Bearish flow noted in American Airlines with 14,134 puts trading, or 1.2x expected. Most active are Mar-23 15 puts and 2/24 weekly 15.5 puts, with total volume in those strikes near 7,000 contracts. The Put/Call Ratio is 2.51, while ATM IV is up nearly 4 points on the day. Earnings are expected on April 27th.
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