Bearish flow noted in Petrobras with 12,340 puts trading, or 1.0x expected. Most active are Jan-24 12 puts and Nov-23 14 calls, with total volume in those strikes near 9,000 contracts. The Put/Call Ratio is 1.87, while ATM IV is up nearly 3 points on the day. Earnings are expected on November 9th.
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