Bearish flow noted in FibroGen with 8,600 puts trading, or 3x expected. Most active are Jul-23 7.5 puts and Jul-23 10 puts, with total volume in those strikes near 6,500 contracts. The Put/Call Ratio is 6.96, while ATM IV is up nearly 16 points on the day. Earnings are expected on August 7th.
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