Bearish flow noted in Warner Bros. Discovery with 24,374 puts trading, or 1.3x expected. Most active are 3/3 weekly 12.5 puts and Mar-23 15 puts, with total volume in those strikes near 11,900 contracts. The Put/Call Ratio is 1.82, while ATM IV is up over 1 point on the day. Earnings are expected on February 23rd.
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Published first on TheFly
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