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Lumen Technologies put volume heavy and directionally bearish

Bearish flow noted in Lumen Technologies with 9,033 puts trading, or 3x expected. Most active are Jan-25 3 puts and 12/2 weekly 6 calls, with total volume in those strikes near 8,500 contracts. The Put/Call Ratio is 5.16, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 8th.

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