Bearish flow noted in Microchip with 3,418 puts trading, or 2x expected. Most active are Feb-23 60 puts and Jan-23 65 puts, with total volume in those strikes near 2,300 contracts. The Put/Call Ratio is 4.28, while ATM IV is up over 1 point on the day. Earnings are expected on February 2nd.
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Published first on TheFly
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