Bearish flow noted in Arbor Realty (ABR) with 4,040 puts trading, or 1.3x expected. Most active are Jan-25 10 puts and Jan-25 11 puts, with total volume in those strikes near 2,400 contracts. The Put/Call Ratio is 10.98, while ATM IV is up over 2 points on the day. Earnings are expected on November 1st.
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