Bearish flow noted in MicroStrategy with 7,711 puts trading, or 1.3x expected. Most active are 4/6 weekly 165 puts and 4/6 weekly 190 puts, with total volume in those strikes near 2,100 contracts. The Put/Call Ratio is 1.98, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 2nd.
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