Bearish flow noted in ON Semiconductor with 9,678 puts trading, or 2x expected. Most active are 9/6 weekly 65 puts and 8/2 weekly 86 calls, with total volume in those strikes near 7,800 contracts. The Put/Call Ratio is 4.35, while ATM IV is up over 1 point on the day. Earnings are expected on October 28th.
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