Bearish flow noted in Target with 8,270 puts trading, or 1.2x expected. Most active are 4/26 weekly 160 puts and Apr-24 167.5 puts, with total volume in those strikes near 3,900 contracts. The Put/Call Ratio is 1.79, while ATM IV is up over 1 point on the day. Earnings are expected on May 22nd.
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