Bearish flow noted in International Paper (IP) with 3,056 puts trading, or 3x expected. Most active are 12/27 weekly 55 puts and Dec-24 60 calls, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 1.56, while ATM IV is up nearly 3 points on the day. Earnings are expected on January 30th.
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