Bearish flow noted in Calumet (CLMT) Specialty Products with 6,597 puts trading, or 7x expected. Most active are Feb-25 16 puts and Feb-25 12 puts, with total volume in those strikes near 4,800 contracts. The Put/Call Ratio is 2.04, while ATM IV is up nearly 2 points on the day. Earnings are expected on February 21st.
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