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Illumina put volume heavy and directionally bearish

Bearish flow noted in Illumina with 3,035 puts trading, or 2x expected. Most active are Nov-23 115 puts and Dec-23 160 calls, with total volume in those strikes near 2,300 contracts. The Put/Call Ratio is 1.73, while ATM IV is up over 1 point on the day. Earnings are expected on November 2nd.

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