Bearish flow noted in iQiyi with 20,216 puts trading, or 11x expected. Most active are 5/26 weekly 4 puts and 5/12 weekly 4 puts, with total volume in those strikes near 11,000 contracts. The Put/Call Ratio is 18.34, while ATM IV is up over 1 point on the day. Earnings are expected on May 25th.
Published first on TheFly
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