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Li Auto put volume heavy and directionally bearish

Bearish flow noted in Li Auto (LI) with 4,751 puts trading, or 2x expected. Most active are 3/7 weekly 25 puts and Feb-25 23 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 1.97, while ATM IV is up nearly 4 points on the day. Earnings are expected on February 24th.

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