Bearish flow noted in PG&E (PCG) with 5,538 puts trading, or 7x expected. Most active are Jan-25 19 puts and 1/24 weekly 19 puts, with total volume in those strikes near 3,500 contracts. The Put/Call Ratio is 17.36, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 20th.
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