Bearish flow noted in Transocean with 12,786 puts trading, or 1.9x expected. Most active are Apr-23 7 puts and 3/10 weekly 7 puts, with total volume in those strikes near 11,200 contracts. The Put/Call Ratio is 3.15, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 1st.
Published first on TheFly
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