Bearish flow noted in Fedex with 7,239 puts trading, or 1.5x expected. Most active are Jun-23 150 puts and 12/23 weekly 170 puts, with total volume in those strikes near 2,200 contracts. The Put/Call Ratio is 2.02, while ATM IV is up over 1 point on the day. Earnings are expected on December 20th.
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Published first on TheFly
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