Bearish flow noted in Vale with 17,357 puts trading, or 1.5x expected. Most active are Dec-23 12 puts and Jun-23 12 puts, with total volume in those strikes near 10,700 contracts. The Put/Call Ratio is 3.49, while ATM IV is up over 3 points on the day. Earnings are expected on July 27th.
Published first on TheFly
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