Bearish flow noted in Union Pacific with 2,138 puts trading, or 2x expected. Most active are 4/26 weekly 240 puts and Jun-24 235 calls, with total volume in those strikes near 950 contracts. The Put/Call Ratio is 2.26, while ATM IV is up over 1 point on the day. Earnings are expected on April 25th.
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Read More on UNP:
- Union Pacific price target raised to $243 from $237 at JPMorgan
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- North American rail traffic up 1.8% for the week ending March 30
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