Bearish flow noted in Calumet (CLMT) Specialty Products with 2,361 puts trading, or 2.0x expected. Most active are Jan-27 5 puts and Aug-25 16 puts, with total volume in those strikes near 2,100 contracts. The Put/Call Ratio is 7.18, while ATM IV is up nearly 5 points on the day. Earnings are expected on May 12th.
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Read More on CLMT:
- Calumet Announces Retirement of Key Board Members
- Calumet Specialty Products: Hold Rating Amid Declining Stock, Revised EBITDA, and Market Challenges
- Calumet upgraded to Neutral from Sell at UBS
- Calumet price target lowered to $28 from $29 at Wells Fargo
- Calumet downgraded to Hold from Buy at TD Cowen
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