Bearish flow noted in Penn National with 5,485 puts trading, or 3x expected. Most active are 12/9 weekly 33 puts and 12/9 weekly 32 puts, with total volume in those strikes near 3,000 contracts. The Put/Call Ratio is 2.74, while ATM IV is up over 1 point on the day. Earnings are expected on February 2nd.
Published first on TheFly
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