Bearish flow noted in Discover with 5,692 puts trading, or 6x expected. Most active are Feb-23 85 puts and 1/27 weekly 90 puts, with total volume in those strikes near 5,300 contracts. The Put/Call Ratio is 13.12, while ATM IV is up over 1 point on the day. Earnings are expected on January 18th.
Published first on TheFly
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