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Sunnova Energy put volume heavy and directionally bearish

Bearish flow noted in Sunnova Energy with 2,734 puts trading, or 1.2x expected. Most active are Feb-24 7 puts and Oct-23 10 calls, with total volume in those strikes near 2,700 contracts. The Put/Call Ratio is 5.22, while ATM IV is up over 1 point on the day. Earnings are expected on October 25th.

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