Bearish flow noted in Shell PLC with 7,082 puts trading, or 4x expected. Most active are Mar-23 55 puts and Jul-23 47.5 puts, with total volume in those strikes near 2,400 contracts. The Put/Call Ratio is 1.66, while ATM IV is up nearly 9 points on the day. Earnings are expected on May 4th.
Published first on TheFly
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