Bearish flow noted in Restoration Hardware with 2,329 puts trading, or 2x expected. Most active are 7/28 weekly 327.5 puts and 7/14 weekly 350 puts, with total volume in those strikes near 410 contracts. The Put/Call Ratio is 1.83, while ATM IV is up over 1 point on the day. Earnings are expected on September 7th.
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