Bearish flow noted in Petrobras with 16,975 puts trading, or 1.6x expected. Most active are Apr-24 17 puts and Jan-24 12 puts, with total volume in those strikes near 6,200 contracts. The Put/Call Ratio is 2.66, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 29th.
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