Bearish flow noted in Lincoln National with 2,150 puts trading, or 1.1x expected. Most active are Oct-23 20 puts and Jul-23 22.5 puts, with total volume in those strikes near 3,200 contracts. The Put/Call Ratio is 17.06, while ATM IV is up over 4 points on the day. Earnings are expected on August 9th.
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