Bearish flow noted in New Oriental Education with 1,245 puts trading, or 3x expected. Most active are Feb-23 45 puts and 12/30 weekly 39 calls, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 1.81, while ATM IV is up over 9 points on the day. Earnings are expected on January 24th.
Published first on TheFly
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