Bearish flow noted in Microchip with 4,085 puts trading, or 2x expected. Most active are 1/27 weekly 72 puts and Feb-23 60 puts, with total volume in those strikes near 1,700 contracts. The Put/Call Ratio is 2.47, while ATM IV is up over 1 point on the day. Earnings are expected on February 2nd.
Published first on TheFly
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