Bearish flow noted in PG&E with 4,744 puts trading, or 8x expected. Most active are 12/1 weekly 16.5 puts and 12/1 weekly 17 calls, with total volume in those strikes near 4,600 contracts. The Put/Call Ratio is 15.30, while ATM IV is up nearly 2 points on the day. Earnings are expected on February 29th.
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