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GSK Pharma put volume heavy and directionally bearish
The Fly

GSK Pharma put volume heavy and directionally bearish

Bearish flow noted in GSK Pharma with 2,278 puts trading, or 2x expected. Most active are 8/2 weekly 38 puts and 7/12 weekly 33.5 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 2.54, while ATM IV is up nearly 2 points on the day. Earnings are expected on July 31st.

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