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Shopify call volume above normal and directionally bullish

Bullish option flow detected in Shopify (SHOP) with 29,584 calls trading, 1.9x expected, and implied vol increasing over 1 point to 65.01%. Jan-26 160 calls and Nov-25 180 calls are the most active options, with total volume in those strikes near 21,400 contracts. The Put/Call Ratio is 0.18. Earnings are expected on November 4th.

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