Bearish flow noted in Sirius XM with 15,294 puts trading, or 3x expected. Most active are 2/2 weekly 5 puts and 2/2 weekly 4.5 puts, with total volume in those strikes near 11,400 contracts. The Put/Call Ratio is 12.36, while ATM IV is up over 3 points on the day. Earnings are expected on February 1st.
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