Bearish flow noted in Petrobras with 35,593 puts trading, or 3x expected. Most active are 3/22 weekly 14 puts and 3/28 weekly 14 puts, with total volume in those strikes near 23,600 contracts. The Put/Call Ratio is 3.38, while ATM IV is up nearly 3 points on the day. Earnings are expected on May 13th.
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