Bearish flow noted in PNC Financial with 3,196 puts trading, or 2x expected. Most active are 3/24 weekly 115 puts and 3/24 weekly 123 calls, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 1.67, while ATM IV is up over 9 points on the day. Earnings are expected on April 14th.
Published first on TheFly
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