Bearish flow noted in Arbor Realty with 4,021 puts trading, or 2x expected. Most active are Nov-24 15 puts and Nov-24 14 puts, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 6.80, while ATM IV is up nearly 4 points on the day. Earnings are expected on November 1st.
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