Bearish flow noted in Wayfair with 5,927 puts trading, or 1.9x expected. Most active are Jan-25 15 puts and Jun-24 65 calls, with total volume in those strikes near 4,700 contracts. The Put/Call Ratio is 2.27, while ATM IV is up over 2 points on the day. Earnings are expected on May 2nd.
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