Bearish flow noted in Urban Outfitters with 3,035 puts trading, or 1.6x expected. Most active are Mar-23 25 puts and Mar-23 27 calls, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 1.68, while ATM IV is up nearly 4 points on the day. Earnings are expected on February 28th.
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