Bearish flow noted in American Airlines (AAL) with 20,749 puts trading, or 2x expected. Most active are 12/27 weekly 15 puts and 1/10 weekly 15 puts, with total volume in those strikes near 19,000 contracts. The Put/Call Ratio is 4.19, while ATM IV is up over 2 points on the day. Earnings are expected on January 30th.
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