Bearish flow noted in Novavax with 12,121 puts trading, or 4x expected. Most active are Jan-24 22.5 puts and Jan-23 10 puts, with total volume in those strikes near 3,700 contracts. The Put/Call Ratio is 1.85, while ATM IV is up nearly 5 points on the day. Earnings are expected on February 27th.
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Published first on TheFly
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