Bearish flow noted in Petrobras with 17,812 puts trading, or 3x expected. Most active are May-23 11 puts and May-23 10 puts, with total volume in those strikes near 11,200 contracts. The Put/Call Ratio is 2.83, while ATM IV is up over 1 point on the day. Earnings are expected on May 9th.
Published first on TheFly
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