Bearish flow noted in Wayfair with 13,205 puts trading, or 1.5x expected. Most active are Apr-23 35 puts and 5/5 weekly 45 calls, with total volume in those strikes near 7,000 contracts. The Put/Call Ratio is 1.52, while ATM IV is up over 2 points on the day. Earnings are expected on May 4th.
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Published first on TheFly
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