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New Fortress Energy put volume heavy and directionally bearish

Bearish flow noted in New Fortress Energy with 15,953 puts trading, or 2x expected. Most active are Nov-24 12 puts and Oct-24 10 puts, with total volume in those strikes near 10,800 contracts. The Put/Call Ratio is 36.26, while ATM IV is up nearly 5 points on the day. Earnings are expected on November 7th.

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