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Toast Inc put volume heavy and directionally bearish

Bearish flow noted in Toast (TOST) Inc with 8,421 puts trading, or 1.9x expected. Most active are 12/13 weekly 38 puts and 12/13 weekly 38.5 puts, with total volume in those strikes near 6,600 contracts. The Put/Call Ratio is 4.62, while ATM IV is up over 2 points on the day. Earnings are expected on February 13th.

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