Bearish flow noted in C4 Therapeutics with 5,049 puts trading, or 2.0x expected. Most active are 1/12 weekly 3.5 puts and Jan-24 5 puts, with total volume in those strikes near 2,900 contracts. The Put/Call Ratio is 1.62, while ATM IV is up nearly 7 points on the day. Earnings are expected on February 22nd.
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