Bearish flow noted in Weight Watchers with 1,283 puts trading, or 2x expected. Most active are Aug-23 5 puts and Jul-23 7.5 puts, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 2.22, while ATM IV is up over 2 points on the day. Earnings are expected on August 3rd.
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