Bearish flow noted in Charles Schwab with 12,095 puts trading, or 1.4x expected. Most active are Nov-23 50 puts and 10/27 weekly 51 puts, with total volume in those strikes near 3,900 contracts. The Put/Call Ratio is 6.10, while ATM IV is up nearly 3 points on the day. Earnings are expected on January 17th.
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