Bearish flow noted in D R Horton with 1,895 puts trading, or 1.3x expected. Most active are Aug-23 120 puts and Aug-23 125 calls, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 1.54, while ATM IV is up over 4 points on the day. Earnings are expected on July 20th.
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