Bearish flow noted in McDonald’s with 10,049 puts trading, or 1.4x expected. Most active are Jan-23 267.5 puts and Jan-23 270 calls, with total volume in those strikes near 2,200 contracts. The Put/Call Ratio is 1.50, while ATM IV is up nearly 2 points on the day. Earnings are expected on January 31st.
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