Bearish flow noted in Zscaler with 9,798 puts trading, or 2x expected. Most active are 1/6 weekly 105 puts and 1/6 weekly 104 puts, with total volume in those strikes near 7,800 contracts. The Put/Call Ratio is 2.66, while ATM IV is up over 2 points on the day. Earnings are expected on February 23rd.
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