Bearish flow noted in PG&E with 17,554 puts trading, or 18x expected. Most active are Jul-23 17.5 puts and Jul-23 17 puts, with total volume in those strikes near 13,200 contracts. The Put/Call Ratio is 11.25, while ATM IV is up over 3 points on the day. Earnings are expected on July 27th.
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