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Microchip put volume heavy and directionally bearish
The Fly

Microchip put volume heavy and directionally bearish

Bearish flow noted in Microchip (MCHP) with 1,854 puts trading, or 1.3x expected. Most active are Nov-24 70 puts and Jan-25 82.5 calls, with total volume in those strikes near 1,400 contracts. The Put/Call Ratio is 1.56, while ATM IV is up nearly 2 points on the day. Earnings are expected on November 5th.

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