Bearish flow noted in XP Inc with 5,138 puts trading, or 8x expected. Most active are 2/23 weekly 24.5 puts and 3/1 weekly 25 puts, with total volume in those strikes near 5,100 contracts. The Put/Call Ratio is 41.44, while ATM IV is up nearly 6 points on the day. Earnings are expected on February 27th.
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