Bearish flow noted in Starbucks (SBUX) with 14,042 puts trading, or 2x expected. Most active are Apr-25 100 puts and Jun-25 90 puts, with total volume in those strikes near 5,400 contracts. The Put/Call Ratio is 3.84, while ATM IV is up nearly 6 points on the day. Earnings are expected on April 29th.
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