Bearish flow noted in Applovin with 2,750 puts trading, or 1.5x expected. Most active are Oct-23 35 puts and Feb-24 32.5 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 2.11, while ATM IV is up nearly 2 points on the day. Earnings are expected on November 8th.
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