Bearish flow noted in Cloudflare with 14,558 puts trading, or 3x expected. Most active are 5/10 weekly 70 puts and May-24 70 puts, with total volume in those strikes near 10,900 contracts. The Put/Call Ratio is 3.75, while ATM IV is up over 3 points on the day. Earnings are expected on May 2nd.
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