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Restoration Hardware put volume heavy and directionally bearish

Bearish flow noted in Restoration Hardware with 1,814 puts trading, or 1.4x expected. Most active are Aug-23 320 puts and Jul-23 300 calls, with total volume in those strikes near 520 contracts. The Put/Call Ratio is 1.69, while ATM IV is up over 1 point on the day. Earnings are expected on September 7th.

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