Bearish flow noted in Lincoln National with 1,792 puts trading, or 1.4x expected. Most active are Jul-23 25 puts and Jul-23 27.5 calls, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 1.68, while ATM IV is up over 2 points on the day. Earnings are expected on August 2nd.
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