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Sunnova Energy put volume heavy and directionally bearish

Bearish flow noted in Sunnova Energy with 6,021 puts trading, or 4x expected. Most active are Mar-24 5 puts and Apr-24 7.5 puts, with total volume in those strikes near 5,900 contracts. The Put/Call Ratio is 10.81, while ATM IV is up nearly 3 points on the day. Earnings are expected on October 25th.

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