Bearish flow noted in Realty Income with 2,872 puts trading, or 3x expected. Most active are Mar-24 52.5 puts and Mar-24 50 (nonstd O1) puts, with total volume in those strikes near 2,200 contracts. The Put/Call Ratio is 4.27, while ATM IV is up over 2 points on the day. Earnings are expected on May 1st.
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