Bearish flow noted in Novavax with 8,829 puts trading, or 2.0x expected. Most active are May-23 7 puts and Jan-24 2.5 puts, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 1.78, while ATM IV is up nearly 13 points on the day. Earnings are expected on May 8th.
Published first on TheFly
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