Bearish flow noted in AT&T (T) with 79,350 puts trading, or 4x expected. Most active are 3/7 weekly 27 puts and 3/7 weekly 27.5 puts, with total volume in those strikes near 28,000 contracts. The Put/Call Ratio is 1.78, while ATM IV is up over 3 points on the day. Earnings are expected on April 23rd.
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