Bearish flow noted in Vale with 8,921 puts trading, or 1.3x expected. Most active are May-23 13 puts and May-23 14 puts, with total volume in those strikes near 4,400 contracts. The Put/Call Ratio is 2.62, while ATM IV is up over 1 point on the day. Earnings are expected on May 4th.
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Published first on TheFly
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