Bearish flow noted in GSK (GSK) Pharma with 7,080 puts trading, or 6x expected. Most active are Jun-25 37 puts and May-25 32.5 puts, with total volume in those strikes near 6,600 contracts. The Put/Call Ratio is 4.16, while ATM IV is up nearly 3 points on the day. Earnings are expected on July 30th.
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