Bearish flow noted in Chewy with 2,938 puts trading, or 1.1x expected. Most active are Jan-23 30 puts and 12/9 weekly 35 puts, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 1.85, while ATM IV is up over 2 points on the day. Earnings are expected on December 8th.
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