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Tapestry put volume heavy and directionally bearish
The Fly

Tapestry put volume heavy and directionally bearish

Bearish flow noted in Tapestry with 3,475 puts trading, or 3x expected. Most active are 10/25 weekly 44 puts and Oct-24 37 puts, with total volume in those strikes near 2,600 contracts. The Put/Call Ratio is 2.27, while ATM IV is up over 1 point on the day. Earnings are expected on November 7th.

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