Bearish flow noted in ON Semiconductor (ON) with 12,590 puts trading, or 2x expected. Most active are 1/10 weekly 62 puts and 12/6 weekly 72 puts, with total volume in those strikes near 6,600 contracts. The Put/Call Ratio is 6.11, while ATM IV is up over 1 point on the day. Earnings are expected on January 27th.
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