Bearish flow noted in Upstart Holdings with 21,755 puts trading, or 2x expected. Most active are May-23 12.5 puts and 5/5 weekly 11 puts, with total volume in those strikes near 9,500 contracts. The Put/Call Ratio is 2.82, while ATM IV is up nearly 6 points on the day. Earnings are expected on May 9th.
Published first on TheFly
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