Bearish flow noted in Western Alliance with 12,974 puts trading, or 4x expected. Most active are 2/9 weekly 58 puts and 2/9 weekly 56 puts, with total volume in those strikes near 2,800 contracts. The Put/Call Ratio is 3.64, while ATM IV is up over 8 points on the day. Earnings are expected on April 16th.
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