Bearish flow noted in Zillow with 3,224 puts trading, or 2x expected. Most active are Jul-23 45 puts and 7/7 weekly 50 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 1.74, while ATM IV is up nearly 4 points on the day. Earnings are expected on August 3rd.
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