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Best Buy put volume heavy and directionally bearish

Bearish flow noted in Best Buy with 3,376 puts trading, or 1.3x expected. Most active are Jan-25 70 puts and Mar-24 50 puts, with total volume in those strikes near 2,100 contracts. The Put/Call Ratio is 3.76, while ATM IV is up over 1 point on the day. Earnings are expected on February 29th.

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