Bearish flow noted in Tapestry with 1,604 puts trading, or 2x expected. Most active are May-24 40 puts and May-24 42.5 puts, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 6.01, while ATM IV is up over 1 point on the day. Earnings are expected on May 9th.
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