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Iovance Biotherapeutics put volume heavy and directionally bearish

Bearish flow noted in Iovance Biotherapeutics with 1,107 puts trading, or 2x expected. Most active are Jul-24 8 puts and Jan-25 9 calls, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 1.81, while ATM IV is up over 14 points on the day. Earnings are expected on August 6th.

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