Bearish flow noted in Madrigal Pharmaceuticals with 2,764 puts trading, or 1.4x expected. Most active are Dec-22 55 puts and Dec-22 35 puts, with total volume in those strikes near 1,800 contracts. The Put/Call Ratio is 6.09, while ATM IV is up over 1 point on the day. Earnings are expected on February 23rd.
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Published first on TheFly