Bearish flow noted in Dutch Bros with 1,869 puts trading, or 3x expected. Most active are Aug-24 30 puts and Aug-24 40 calls, with total volume in those strikes near 1,700 contracts. The Put/Call Ratio is 2.16, while ATM IV is up over 4 points on the day. Earnings are expected on August 7th.
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Dutch Bros put volume heavy and directionally bearish
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