Flagstar Financial Inc put volume heavy and directionally bearish

Bearish flow noted in Flagstar Financial (FLG)Inc with 17,231 puts trading, or 29x expected. Most active are Jul-25 9 puts and Jan-26 10 puts, with total volume in those strikes near 15,400 contracts. The Put/Call Ratio is 31.67, while ATM IV is up over 5 points on the day. Earnings are expected on April 25th.

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