Bearish flow noted in Coupang with 5,847 puts trading, or 3x expected. Most active are Mar-24 12.5 puts and May-24 12.5 puts, with total volume in those strikes near 5,000 contracts. The Put/Call Ratio is 3.56, while ATM IV is up nearly 2 points on the day. Earnings are expected on February 27th.
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