Bearish flow noted in E.l.f. Beauty with 1,684 puts trading, or 1.5x expected. Most active are Oct-23 120 puts and Sep-23 130 puts, with total volume in those strikes near 1,300 contracts. The Put/Call Ratio is 2.38, while ATM IV is up nearly 2 points on the day. Earnings are expected on November 1st.
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