Bearish flow noted in Warner Bros. Discovery with 34,153 puts trading, or 1.9x expected. Most active are 12/9 weekly 10.5 puts and 12/9 weekly 11 puts, with total volume in those strikes near 28,200 contracts. The Put/Call Ratio is 4.24, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 23rd.
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Published first on TheFly
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