Bearish flow noted in Gap with 6,820 puts trading, or 2x expected. Most active are Mar-23 10 puts and Jan-23 12.5 calls, with total volume in those strikes near 5,900 contracts. The Put/Call Ratio is 2.88, while ATM IV is up over 2 points on the day. Earnings are expected on March 2nd.
Published first on TheFly
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