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Shift4 Payments put volume heavy and directionally bearish

Bearish flow noted in Shift4 Payments with 1,033 puts trading, or 1.0x expected. Most active are Jun-24 67.5 puts and Jul-24 67.5 puts, with total volume in those strikes near 620 contracts. The Put/Call Ratio is 1.80, while ATM IV is up over 1 point on the day. Earnings are expected on May 2nd.

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