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XPeng put volume heavy and directionally bearish

Bearish flow noted in XPeng (XPEV) with 30,209 puts trading, or 7x expected. Most active are 2/28 weekly 15 puts and Feb-25 15.5 puts, with total volume in those strikes near 9,200 contracts. The Put/Call Ratio is 2.70, while ATM IV is up over 2 points on the day. Earnings are expected on March 19th.

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