Bearish flow noted in Urban Outfitters (URBN) with 1,893 puts trading, or 1.3x expected. Most active are 1/3 weekly 56 puts and 1/10 weekly 56 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 6.57, while ATM IV is up over 1 point on the day. Earnings are expected on March 4th.
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