Bearish flow noted in Ringcentral with 7,799 puts trading, or 13x expected. Most active are Jun-23 25 puts and May-23 27 calls, with total volume in those strikes near 7,600 contracts. The Put/Call Ratio is 6.72, while ATM IV is up nearly 3 points on the day. Earnings are expected on May 9th.
Published first on TheFly
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