Bearish flow noted in US Steel with 5,097 puts trading, or 1.1x expected. Most active are Mar-25 36 puts and 3/14 weekly 38.5 calls, with total volume in those strikes near 3,700 contracts. The Put/Call Ratio is 1.95, while ATM IV is up over 8 points on the day. Earnings are expected on May 1st.
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