Bearish flow noted in Citi with 25,907 puts trading, or 1.8x expected. Most active are Mar-23 49.5 puts and Mar-23 50 puts, with total volume in those strikes near 9,200 contracts. The Put/Call Ratio is 1.65, while ATM IV is up nearly 2 points on the day. Earnings are expected on April 14th.
Published first on TheFly
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