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Sunnova Energy put volume heavy and directionally bearish

Bearish flow noted in Sunnova Energy with 2,276 puts trading, or 5x expected. Most active are Jan-24 12.5 puts and Aug-23 17.5 calls, with total volume in those strikes near 2,300 contracts. The Put/Call Ratio is 3.94, while ATM IV is up over 1 point on the day. Earnings are expected on October 25th.

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