Bearish flow noted in Novavax with 5,383 puts trading, or 1.6x expected. Most active are Apr-23 10 puts and 4/6 weekly 2.5 puts, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 4.51, while ATM IV is up over 1 point on the day. Earnings are expected on May 8th.
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Published first on TheFly
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