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American Airlines put volume heavy and directionally bearish

Bearish flow noted in American Airlines with 13,284 puts trading, or 1.1x expected. Most active are Jun-24 10 puts and 1/12 weekly 12.5 puts, with total volume in those strikes near 11,900 contracts. The Put/Call Ratio is 4.42, while ATM IV is up over 4 points on the day. Earnings are expected on January 25th.

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