Bearish flow noted in Norfolk Southern with 2,555 puts trading, or 1.5x expected. Most active are 2/24 weekly 222.5 puts and Mar-23 200 puts, with total volume in those strikes near 600 contracts. The Put/Call Ratio is 3.61, while ATM IV is up nearly 2 points on the day. Earnings are expected on April 26th.
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Published first on TheFly
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