Bearish flow noted in Southwest (LUV) with 4,679 puts trading, or 1.7x expected. Most active are Nov-24 30 puts and Nov-24 35 calls, with total volume in those strikes near 3,700 contracts. The Put/Call Ratio is 1.94, while ATM IV is up nearly 2 points on the day. Earnings are expected on January 30th.
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