Bearish flow noted in American Airlines with 22,635 puts trading, or 1.9x expected. Most active are Jul-23 18.5 puts and 7/14 weekly 18 puts, with total volume in those strikes near 5,200 contracts. The Put/Call Ratio is 2.96, while ATM IV is up over 1 point on the day. Earnings are expected on July 20th.
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