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Deutsche Bank put volume heavy and directionally bearish

Bearish flow noted in Deutsche Bank with 10,675 puts trading, or 5x expected. Most active are Jan-24 12 puts and Apr-23 10 puts, with total volume in those strikes near 4,700 contracts. The Put/Call Ratio is 4.66, while ATM IV is up nearly 11 points on the day. Earnings are expected on April 27th.

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