Bearish flow noted in Johnson & Johnson with 43,362 puts trading, or 6x expected. Most active are 2/3 weekly 162.5 puts and 2/3 weekly 160 puts, with total volume in those strikes near 20,100 contracts. The Put/Call Ratio is 2.89, while ATM IV is up over 5 points on the day. Earnings are expected on April 18th.
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