Bearish flow noted in American Express with 2,354 puts trading, or 1.8x expected. Most active are 12/2 weekly 150 puts and 12/2 weekly 152.5 puts, with total volume in those strikes near 1,400 contracts. The Put/Call Ratio is 4.29, while ATM IV is up over 1 point on the day. Earnings are expected on January 27th.
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