Bearish flow noted in Delta Air Lines with 18,217 puts trading, or 1.3x expected. Most active are Jun-23 27 puts and May-23 34.5 puts, with total volume in those strikes near 14,700 contracts. The Put/Call Ratio is 2.74, while ATM IV is up over 3 points on the day. Earnings are expected on July 12th.
Published first on TheFly
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