Bearish flow noted in Burlington Stores with 2,228 puts trading, or 1.5x expected. Most active are 5/12 weekly 175 puts and May-23 160 puts, with total volume in those strikes near 1,500 contracts. The Put/Call Ratio is 9.28, while ATM IV is up nearly 2 points on the day. Earnings are expected on May 25th.
Published first on TheFly
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