Bearish flow noted in MicroStrategy with 6,804 puts trading, or 1.0x expected. Most active are 3/3 weekly 250 puts and 2/24 weekly 300 calls, with total volume in those strikes near 1,300 contracts. The Put/Call Ratio is 1.55, while ATM IV is up nearly 7 points on the day. Earnings are expected on May 2nd.
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