Bearish flow noted in Warner Bros. Discovery with 12,985 puts trading, or 1.1x expected. Most active are 3/3 weekly 15.5 puts and 2/24 weekly 14 puts, with total volume in those strikes near 3,700 contracts. The Put/Call Ratio is 1.55, while ATM IV is up over 3 points on the day. Earnings are expected on February 23rd.
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Published first on TheFly
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