Bearish flow noted in Microchip with 1,019 puts trading, or 1.9x expected. Most active are Mar-23 75 puts and Apr-23 80 calls, with total volume in those strikes near 630 contracts. The Put/Call Ratio is 1.81, while ATM IV is up nearly 2 points on the day. Earnings are expected on February 2nd.
Published first on TheFly
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