Bearish flow noted in Bausch Health with 2,791 puts trading, or 1.4x expected. Most active are 8/9 weekly 4.5 puts and 8/9 weekly 5 puts, with total volume in those strikes near 1,900 contracts. The Put/Call Ratio is 3.23, while ATM IV is up over 3 points on the day. Earnings are expected on October 31st.
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