Bearish flow noted in Sea Limited with 7,303 puts trading, or 1.5x expected. Most active are 9/1 weekly 45 puts and 7/28 weekly 65 calls, with total volume in those strikes near 5,400 contracts. The Put/Call Ratio is 1.52, while ATM IV is up over 1 point on the day. Earnings are expected on August 15th.
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