Bearish flow noted in Weight Watchers with 1,758 puts trading, or 4x expected. Most active are Aug-23 5 puts and Aug-23 7.5 puts, with total volume in those strikes near 1,200 contracts. The Put/Call Ratio is 1.90, while ATM IV is up nearly 5 points on the day. Earnings are expected on August 3rd.
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