Bearish flow noted in Apellis Pharmaceuticals with 4,163 puts trading, or 1.5x expected. Most active are Mar-23 35 puts and Mar-23 25 puts, with total volume in those strikes near 2,900 contracts. The Put/Call Ratio is 5.87, while ATM IV is up nearly 15 points on the day. Earnings are expected on February 27th.
Published first on TheFly
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