Bearish flow noted in Arbor Realty with 13,036 puts trading, or 5x expected. Most active are Nov-24 15 puts and Nov-24 16 calls, with total volume in those strikes near 13,100 contracts. The Put/Call Ratio is 2.68, while ATM IV is up nearly 15 points on the day. Earnings are expected on November 1st.
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