Bearish flow noted in Western Alliance with 1,332 puts trading, or 2x expected. Most active are 1/12 weekly 63 puts and 1/12 weekly 64 calls, with total volume in those strikes near 1,300 contracts. The Put/Call Ratio is 2.65, while ATM IV is up over 1 point on the day. Earnings are expected on January 23rd.
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