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Cassava Sciences put volume heavy and directionally bearish

Bearish flow noted in Cassava Sciences with 1,317 puts trading, or 1.4x expected. Most active are Nov-23 17.5 puts and 12/1 weekly 20 puts, with total volume in those strikes near 620 contracts. The Put/Call Ratio is 2.24, while ATM IV is up nearly 15 points on the day. Earnings are expected on November 7th.

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