Bearish flow noted in Bath & Body Works with 1,677 puts trading, or 1.4x expected. Most active are 1/26 weekly 42 puts and Feb-24 45 puts, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 3.13, while ATM IV is up over 2 points on the day. Earnings are expected on February 29th.
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