Bearish flow noted in Blackstone Mortgage with 5,048 puts trading, or 6x expected. Most active are Jan-24 21 puts and Dec-23 22 puts, with total volume in those strikes near 2,500 contracts. The Put/Call Ratio is 8.63, while ATM IV is up nearly 4 points on the day. Earnings are expected on February 7th.
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Read More on BXMT:
- Blackstone Mortgage put volume heavy and directionally bearish
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- Blackstone Mortgage price target lowered to $22 from $25 at BTIG