Bearish flow noted in Western Alliance with 2,514 puts trading, or 1.3x expected. Most active are 10/6 weekly 39 puts and Dec-23 30 puts, with total volume in those strikes near 2,300 contracts. The Put/Call Ratio is 6.01, while ATM IV is up nearly 11 points on the day. Earnings are expected on October 19th.
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