Bearish flow noted in Bath & Body Works with 3,349 puts trading, or 1.2x expected. Most active are 12/23 weekly 40 puts and Jan-23 40 puts, with total volume in those strikes near 2,800 contracts. The Put/Call Ratio is 1.82, while ATM IV is up over 1 point on the day. Earnings are expected on February 22nd.
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