Bearish flow noted in Hertz Global Holdings with 3,500 puts trading, or 4x expected. Most active are Aug-23 17.5 puts and Jul-23 20 calls, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 7.95, while ATM IV is up over 3 points on the day. Earnings are expected on July 27th.
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