Bearish flow noted in Sunnova Energy with 6,021 puts trading, or 4x expected. Most active are Mar-24 5 puts and Apr-24 7.5 puts, with total volume in those strikes near 5,900 contracts. The Put/Call Ratio is 10.81, while ATM IV is up nearly 3 points on the day. Earnings are expected on October 25th.
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Read More on NOVA:
- Unusually active option classes on open October 19th
- Sunnova Energy price target lowered to $18 from $29 at Barclays
- Citi upgrades Sunnova Energy to Buy ‘entirely on valuation’
- Sunnova Energy upgraded to Buy from Neutral at Citi
- Sunnova Energy price target lowered to $21 from $40 at Northland
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