Bearish flow noted in Lennar with 2,807 puts trading, or 1.9x expected. Most active are 8/11 weekly 123 puts and Aug-23 119 puts, with total volume in those strikes near 820 contracts. The Put/Call Ratio is 3.24, while ATM IV is up over 2 points on the day. Earnings are expected on September 20th.
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