Bearish flow noted in Kraft Heinz with 12,288 puts trading, or 9x expected. Most active are Feb-23 40 puts and 1/27 weekly 40 puts, with total volume in those strikes near 6,000 contracts. The Put/Call Ratio is 2.11, while ATM IV is up over 2 points on the day. Earnings are expected on February 15th.
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