Bearish flow noted in Microchip with 1,265 puts trading, or 1.3x expected. Most active are 10/14 weekly 59 puts and Apr-23 50 puts, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 4.94, while ATM IV is up over 1 point on the day. Earnings are expected on November 3rd.
Published first on TheFly
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