Bearish flow noted in Best Buy with 2,378 puts trading, or 1.3x expected. Most active are May-23 70 puts and May-23 68 puts, with total volume in those strikes near 1,200 contracts. The Put/Call Ratio is 2.24, while ATM IV is up nearly 5 points on the day. Earnings are expected on May 25th.
Published first on TheFly
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