Bearish flow noted in Transocean with 13,933 puts trading, or 1.3x expected. Most active are 3/24 weekly 6 puts and Mar-23 7 calls, with total volume in those strikes near 11,500 contracts. The Put/Call Ratio is 2.91, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 1st.
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Published first on TheFly
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