Bearish flow noted in Western Alliance with 2,427 puts trading, or 2x expected. Most active are 2/9 weekly 50 puts and 2/9 weekly 50 calls, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 2.84, while ATM IV is up over 1 point on the day. Earnings are expected on April 16th.
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