Bearish flow noted in Novavax with 16,675 puts trading, or 2x expected. Most active are 1/13 weekly 9.5 puts and 1/13 weekly 8.5 puts, with total volume in those strikes near 8,800 contracts. The Put/Call Ratio is 1.72, while ATM IV is up over 3 points on the day. Earnings are expected on February 27th.
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Published first on TheFly
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