Bearish flow noted in Valero with 2,229 puts trading, or 1.6x expected. Most active are 12/2 weekly 138 puts and Jun-23 110 puts, with total volume in those strikes near 330 contracts. The Put/Call Ratio is 1.64, while ATM IV is up nearly 2 points on the day. Earnings are expected on January 26th.
Published first on TheFly
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