Bearish flow noted in Constellation Energy (CEG) with 7,717 puts trading, or 1.5x expected. Most active are Jan-25 200 puts and 11/29 weekly 220 puts, with total volume in those strikes near 4,000 contracts. The Put/Call Ratio is 3.09, while ATM IV is up over 2 points on the day. Earnings are expected on March 3rd.
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