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JPMorgan put volume heavy and directionally bearish

Bearish flow noted in JPMorgan with 28,403 puts trading, or 1.4x expected. Most active are Dec-22 115 puts and 12/9 weekly 134 puts, with total volume in those strikes near 6,500 contracts. The Put/Call Ratio is 1.56, while ATM IV is up nearly 2 points on the day. Earnings are expected on January 13th.

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