Bearish flow noted in Wayfair with 6,221 puts trading, or 1.8x expected. Most active are Jul-23 55 puts and 7/14 weekly 54 puts, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 2.14, while ATM IV is up over 6 points on the day. Earnings are expected on August 3rd.
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