Bearish flow noted in Rocket Companies with 12,444 puts trading, or 3x expected. Most active are 3/22 weekly 12.5 puts and 3/22 weekly 12 puts, with total volume in those strikes near 8,900 contracts. The Put/Call Ratio is 2.08, while ATM IV is up over 2 points on the day. Earnings are expected on May 2nd.
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Read More on RKT:
- Rocket Companies price target raised to $8 from $7 at BofA
- Rocket Companies put volume heavy and directionally bearish
- Unusually active option classes on open March 5th
- Rocket Companies call volume above normal and directionally bullish
- Rocket Companies sees Q1 revenue $92M-$1.08B, consensus $929.87M
