Bearish flow noted in Coherent with 1,925 puts trading, or 3x expected. Most active are 8/2 weekly 63 puts and 8/2 weekly 55 puts, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 2.96, while ATM IV is up over 5 points on the day. Earnings are expected on August 13th.
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