Bearish flow noted in International Paper with 2,653 puts trading, or 1.0x expected. Most active are Jun-24 43 puts and 5/31 weekly 45 puts, with total volume in those strikes near 2,100 contracts. The Put/Call Ratio is 1.72, while ATM IV is up nearly 3 points on the day. Earnings are expected on July 25th.
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