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Teladoc put volume heavy and directionally bearish

Bearish flow noted in Teladoc (TDOC) with 5,153 puts trading, or 5x expected. Most active are Nov-25 7 puts and 10/3 weekly 8 calls, with total volume in those strikes near 5,400 contracts. The Put/Call Ratio is 3.06, while ATM IV is up nearly 4 points on the day. Earnings are expected on October 29th.

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